Mason Manufacturing Company had the following data in its general ledger for the six months ended December 31, 19X6.

purchased raw materials	79,850
Factory supplies used	2,972
Direct labour	65,138
indirect work	3.800
Power, heat and light	2,200
depreciation, machinery	2,800
Depreciation, office building	1,300

Inventories:

Finished goods, June 30: P 63,000, December 31: P 73,000

Work in progress, June 30: P12,000, December 31: P18,000

Commodities, June 30 P 57,000, December 31: P 17,000

What is cost of goods sold?

Answer rating: 100% (QA)

COGS Opening Finished Goods Inventory Cost of Goods Manufactured Closing Finished Goods Invento... View the full answer