Santos Inc. had the following information for the preceding year: Additional information for the year is as
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Question:
Santos Inc. had the following information for the preceding year:
Additional information for the year is as follows:
Direct materials used???????????????$ 200,000
Direct labor??????????????????...$ 150,000
Manufacturing overhead applied??????????..$ 160,000
Cost of goods manufactured????????????$ 525,000
Unadjusted cost of goods sold???????????$ 544,000
What was the ending Finished Goods Inventory balance on 12/31?
$20,000
$11,000
$54,000
$50,000
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