The manufacturing operations of Sheridan, Inc. had the following inventory balances for the month of January:...

 

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The manufacturing operations of Sheridan, Inc. had the following inventory balances for the month of January: Raw Materials Work in Process Finished Goods January 1 January 31 $13,680 23,940 Cost of goods sold 15,960 Sheridan transferred $307,800 of completed goods out of Work in Process Inventory during January. Compute the cost of goods sold for January. $14,820 26,220 13,680 $ The manufacturing operations of Sheridan, Inc. had the following inventory balances for the month of January: Raw Materials Work in Process Finished Goods January 1 January 31 $13,680 23,940 Cost of goods sold 15,960 Sheridan transferred $307,800 of completed goods out of Work in Process Inventory during January. Compute the cost of goods sold for January. $14,820 26,220 13,680 $

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To compute the cost of goods sold COGS for January you need to calculate the change in inventory bal... View the full answer