Coronado Industries has beginning work in process inventory

Coronado Industries has beginning work in process inventory of $134000 and total manufacturing costs of $486000. If cost of goods manufactured is $460000, what is the cost of the ending work in process inventory?

Solution

cost of goods manufactured=beginning work in process inventory+total manufacturing costs-cost of the ending work in process inventory

460,000=134000+486000-cost of the ending work in process inventory

Hence

cost of the ending work in process inventory=(134000+486000-460,000)

=$160,000