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Question: compute cost of goods manufactured and cost of goods sold...

Question details

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

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