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A firm had the following balances at the end of the period

Work in process $ 400

Finished goods 600

Cost of goods sold 1,000

Overapplied overhead 400

It was determined that the overapplied overhead should be treated as immaterial. After any adjustments for overapplied overhead are made, the balance of work in process would be?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9943658

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