Solution-What was the balance in the finished goods

What was the balance in the finished goods inventory account

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Question - Water Feature Company uses a job-order costing system and applies overhead to jobs using a pre-determined overhead rate. The company closes any balance in the Manufacturing Overhead account to Cost of Goods Sold. During the year the company's Finished Goods inventory account was debited for $125,000 and credited for $110.000. The ending balance in the Finished Goods inventory account was $28.000. At the end of the year, manufacturing overhead was over-applied by $4.500.

What was the balance in the Finished Goods inventory account at the beginning of the year?

Reference no: EM133176071

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What was the balance in the finished goods inventory account

Reference no: EM133176071

Reference no: EM133176071

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