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The following amounts were taken from the general ledger of the Excellent Manufacturing Co

The following amounts were taken from the general ledger of the Excellent Manufacturing Company. Compute the cost of goods manufactured and the cost of goods sold for the company for the year.

Raw materials inventory - beg. of year

$50,000

Depreciation - plant & equipment

$26,000

Raw materials inventory - end of year

56,000

Repairs and maintenance - plant

  8,000

Work in process inv. - beg. of year

100,000

Insurance on plant

18,000

Work in process inv. - end of year

70,000

General and administration exp.

25,000

Finished goods inv. - beg. of year

36,000

Indirect labor

30,000

Finished goods inv. - end of year

50,000

Direct labor

164,000

Purchase of direct materials

30,000

Marketing expenses

40,000

Dec 07 2019 Read more Less More

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