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Question - The following information relates to production of JJK CORP for the month of Oct 2011:
1. Direct Materials used 10,000
2. Direct labor rate per hour 5.00
3. Overhead cost 2,300
4. Direct labor hours employed 500
5. Gross Profit rate 25% based on selling price
6. Increase in WIP 1,100
7. Ending inventory of Finished goods is 30% of its beginning balance
8. Total sales 50,000
Required - What is the ending inventory of Finished goods of the company?
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