Selected information concerning the operations of a company for the year ended December 31 is as follows: Units produced .......
Units produced ....... 20,000
Units sold .......... 18,000
Direct materials used ........ $80,000
Direct labor incurred ....... $40,000
Factory overhead ....... $74,000
Work in process inventories at the beginning and end of the year were zero. Beginning inventory of finished goods was $9,650 (for 1,000 units). Cost of goods sold was $174,600. What was the company’s finished goods inventory cost at December 31?
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Question Posted: September 01, 2015 03:51:50