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Balance of Work in Process and Finished Goods, Cost of Goods Sold Derry Company uses...

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Accounting

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Balance of Work in Process and Finished Goods, Cost of Goods Sold Derry Company uses job-order costing. At the end of the month, the following information was gathered: Job # Total Cost Complete? Sold? 301 $1,700 Yes No 302 1,240 Yes Yes 303 710 No No 304 2,340 Yes No 305 4,160 Yes No 306 400 No No 307 760 Yes Yes 308 630 No No 309 1,110 No No 310 570 No No The beginning balance of Finished Goods was $320, consisting of Job 300, which was not sold by the end of the month. Required: 1. Calculate the balance in Work in Process at the end of the month. 2. Calculate the balance in Finished Goods at the end of the month. $ $ 3. Calculate Cost of Goods Sold for the month. $

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