The ending balances in the work in process, finished goods, and cost of goods sold...
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Accounting
The ending balances in the work in process, finished goods, and cost of goods sold account are $5,000, $20,000 and $75,000 respectively. Overhead was over-applied for the period in the amount of $10,000. Using the proration method based on the ending balances in each account, what would be the ending balance in the finished goods account after the adjustment for proration? $5,500 $22,000 $4,500 $18,000
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