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15 July, 01:56

Youngstown Rubber reports the following data for its first year of operation.

Direct materials used = $711,000

Cost of goods manufactured = $680,600

Finished goods inventory, ending = $191,000

Manufacturing Overhead = 100,000

Finished goods inventory, beginning = 0

Work in process inventory, beginning = 0

Work in process inventory, ending = 130,400

What is the cost of goods sold? A. $1,491,600 B. $459,200 C. $489,600 D. $680,600

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  1. 15 July, 05:24
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    Answer: The correct answer is "C. $489,600".

    Explanation: The problem can be solved with a simple calculation:

    The cost of goods sold is obtained by calculating: The Cost of goods manufactured - Finished goods inventory, ending.

    Therefore the calculation would be:

    $ 680600 - $ 191000 = $489600.
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