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Formica lne. is making an effort to reduce finished goods inventories at the end of...

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Accounting

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Formica lne. is making an effort to reduce finished goods inventories at the end of the period to half that at the beginning of the period. They have gathered the following information for September Beginning inventories: DM 524,000 WIP $82,000 Cost of goods manufactured: $72,000 Cost of goods sold: $110,000 Ending inventories: DMWIP$18,000$66,000 If they were successful in reducing inventories to the desired level, their finished goods inventory at the end of September is? a) $72,000 b) $110,000 c) $38,000 d) $76,000

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