Question: i have the answer just dont know how to work it out. Selected financial information for Red and Black Corp. is presented in the following
Selected financial information for Red and Black Corp. is presented in the following table (000s omitted). Sales revenue $4200 Purchases of direct materials $480 Direct labor $500 Manufacturing overhead $700 Operating expenses $680 Beginning raw materials inventory $290 Ending raw materials inventory $200 Beginning work in process inventory $410 Ending work in process inventory $460 Beginning finished goods inventory $340 Ending finished goods inventory $300 What was cost of goods sold? Selected Answer: $1680 Answers $1680 $1760 $1790 $960
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