Question: Please explain the correct approach for solving this general accounting question. During FY 2023, Aniston Electronics had total manufacturing costs of $725,000. Their cost of

Please explain the correct approach for solving this general accounting question.

During FY 2023, Aniston Electronics had total manufacturing costs of $725,000. Their cost of goods manufactured for the year was $695,000. The January 1, 2024 balance of the Work-in-Process Inventory is $85,000. Use this information to determine the dollar amount of the FY 2023 beginning Work-in-Process Inventory

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