Cost of goods manufactured equals $55,000 for 2014. Finished goods inventory is $3,500 at the beginning of
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Cost of goods manufactured equals $55,000 for 2014. Finished goods inventory is $3,500 at the beginning of the year and $4,000 at the end of the year. Beginning and ending work in process for 2014 are $5,000 and $4,000, respectively. How much is cost of goods sold for the year?
a. $72,500
b. $69,000
c. $63,500
d. $70,500
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