Question: compute cost of goods manufactured and cost of goods sold...
Compute cost of goods manufactured and cost of goods sold from the following amounts, using the equation method.
Beginning of Year End of Year
Direct materials inventory $22,000 $26,000
Work in process inventory $38,000 $30,000
Finished goods inventory $18,000 $23,000
Purchases of direct materials $75,000
Direct labour $82,000
Manufacturing overhead $39,000