Waterway Industries's accounting records reflect the following inventories: Dec. 31, 2019 Dec. 31, 2020 Raw...
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Accounting
Waterway Industries's accounting records reflect the following inventories: Dec. 31, 2019 Dec. 31, 2020 Raw materials $130000 $105000 inventory Work in process inventory 156000 174000 Finished goods inventory 150000 138000 During 2020, Waterway purchased $980000 of raw materials, incurred direct labor costs of $175000, and incurred manufacturing overhead totaling $224000. How much would Waterway Industries report as cost of goods manufactured for 2020? $1398000 $1392000 O $1386000 O $1229000
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