Beginning work in process inventory

$$42,000$

Plus:

Manufacturing costs incurred

Direct materials used

$$73,000$

Direct labor

$89,000$

Manufacturing overhead

$71,800$

Total manufacturing costs to account for

$275,800$

Less:

Ending work in process inventory

$37,000$

Cost of goods manufactured

$$238,800$

Part $3$

Now calculate the cost of goods sold.

Strike Gold Company

Calculation of Cost of Goods Sold

For Current Year

Beginning finished goods inventory

$238800$

Plus:

Less:

Cost of goods sold