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Cost of Goods Sold In March, Chilton Company purchased materials costing $35,000 and incurred...

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Accounting

Cost of Goods Sold
In March, Chilton Company purchased materials costing $35,000 and incurred direct labor cost of $15,000. Overhead totaled $39,000 for
the month. Information on inventories was as follows:
Required:
What was the cost of goods sold for March?
$59,300
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Set up T account for finished goods inventory account. Add cost of goods manufactured (debit) from work in process (credit).
Learning Objective 3.
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