The profit and loss statement of Madengrad Mining includes the following information for the current fiscal year:
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Sales..........................................$160,000
Gross profit ..................................48,000
Year-end finished goods inventory ...58,300
Opening finished goods inventory.... 60,190
The cost of goods manufactured by Madengrad for the current fiscal year is
$46,110$49,890$49,890$113,890
Related Book For
Managerial Accounting Decision Making and Performance Management
ISBN: 978-0273764489
4th edition
Authors: Ray Proctor
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