Help SaveExitS Calculate the cost of goods sold using the fo

Help Save&ExitS; Calculate the cost of goods sold using the following information teria Directna Direct labor Factory overhead costs General and administrative expenses Selling expensers Hork in Process inventory, January1 Mork in Process inventory, December 31 rinished goods inventory, Janary1 rinished goods inventory, December 31 $300,100 133,600 265,600 87,100 50,400 120,100 127,500 233,700 240, 300 Multiple Choice 4 5 6 8 9

Solution

Answer)

My answer is option $685300.

This is how it is calculated:

Direct material+direct Labour+factory over head+WIP inventory as on,Jan 1-WIP inventory as on December 31+finished goods as on January 1-finished goods inventory as on December 31.

=$300100+$133600+$265600+$120100-$127500+$233700-240300.

General and administration expenses and selling expenses should not be included in COGS