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Question - X Company began operations in 2018. It manufactured 10,500 units of a single product and sold 7,200 units for $170 each. The following information is for 2018:
Direct materials purchased
$575,100
Direct materials used
562,800
Direct labor costs
262,605
Overhead costs
124,530
Selling costs
99,540
Administrative costs
66,360
There was no beginning balance in any inventory account. There were no unfinished units at the end of the year. What was Cost of Goods Sold for 2018?
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