During June, Agron Inc. purchases of direct materials totaled $119,000;

During June, Agron Inc. purchases of direct materials totaled $119,000; direct labor for the month was 3,400 hours at $10.00 per hour. Agron also incurred the following overhead costs: utilities, $5,870; supervision, $17,300; indirect materials, $6,750; depreciation, $6,200; insurance, $1,830; and miscellaneous, $1,100.
Beginning inventory accounts were as follows: Materials Inventory, $48,600; Work in Process Inventory, $55,250; and Finished Goods Inventory, $38,500. Ending inventory accounts were as follows: Materials Inventory, $55,100; Work in Process Inventory, $48,400; and Finished Goods Inventory, $37,450.
Prepare a statement of cost of goods manufactured.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...

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