EasiMover Company had the following information at year end: Finished goods inventory, January 1 $20,000 Finished goods
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Question:
EasiMover Company had the following information at year end:
Finished goods inventory, January 1 $20,000
Finished goods inventory, December 31 $27,000
Work in process inventory, January 1 $30,000
Work in process inventory, December 31 $42,000
If the total manufacturing costs for the year amounted to $665,000 and annual sales were $998,000,
what are:
- Cost of goods manufactured?
- Gross profits?
Expert Answer:
To find the Cost of Goods Manufactured COGM we need to calculate the total manufacturing costs incur... View the full answer
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