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What is the value of the ending finished goods inventory

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Reference no: EM132501237

The following events took place at a manufacturing company for the current year:

(1) Purchased $96,500 in direct materials.
(2) Incurred labor costs as follows: (a) direct, $57,500 and (b) indirect, $15,100.
(3) Other manufacturing overhead was $108,500, excluding indirect labor.
(4) Transferred 80% of the materials to the manufacturing assembly line.
(5) Completed 65% of the Work-in-Process during the year.
(6) Sold 85% of the completed goods.
(7) There were no beginning inventories.

Question 1: What is the value of the ending Finished Goods Inventory?

Reference no: EM132501237

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