6. The following information was taken from the accounts of the Gorme Manufacturing Company for...
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Accounting
6. The following information was taken from the accounts of the Gorme Manufacturing Company for 2006:
| Finished goods inventory, 1/1 | $50,000 |
| Finished goods inventory, 12/31 | 33,000 |
| Raw materials used | 80,000 |
| Direct labor | 60,000 |
| Factory depreciation | 35,000 |
| Sales salaries | 30,000 |
| Sales returns | 8,000 |
| Goods in process, 1/1 | 70,000 |
| Goods in process, 12/31 | 90,000 |
Gorme's cost of goods sold for 2006 was
| a. | $130,000 |
| b. | $144,000 |
| c. | $172,000 |
| d. | $170,000 |
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