7. Green Glass Ltd makes lamps using a Just-in-Time approach and uses backflush accounting to...
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Accounting
7. Green Glass Ltd makes lamps using a Just-in-Time approach and uses backflush accounting to record costs. Green Glass Ltd In November Green Glass Ltd made and sold 40,000 lamps. Each lamp has a standard cost of 8.50 which includes raw materials of 7.00. incurred total conversion costs of 62,500 during November. What is the value of the cost of goods sold in November (rounded to the nearest )? [3 marks]
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