A manufacturing company had a finished goods inventory balance of $200,000 on 12/31/2011. During 2012, the company
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A manufacturing company had a finished goods inventory balance of $200,000 on 12/31/2011. During 2012, the company transferred $1,000,000 of Work-in-Process costs from Finished Goods. A year-end inventory count revealed a balance in finished goods of $400,000 as of 12/31/2012.
What was the cost of goods sold during 2012?
Related Book For
Management Accounting
ISBN: 9781760421144
7th Edition
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
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