The following events took place at a manufacturing company for the current year: (1) Purchased...
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Accounting
The following events took place at a manufacturing company for the current year: (1) Purchased $96,500 in direct materials. (2) Incurred labor costs as follows: (a) direct, $57,500 and (b) indirect, $15,100. (3) Other manufacturing overhead was $108,500, excluding indirect labor. (4) Transferred 80% of the materials to the manufacturing assembly line. (5) Completed 65% of the Work-in-Process during the year. (6) Sold 85% of the completed goods. (7) There were no beginning inventories. What is the value of the ending Finished Goods Inventory
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