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avido Inc had the following information for the preceding year:

Beginning Inventory (1/1) Ending Inventory (12/31)
Raw Materials Inventory $43,200 $38,400
Work in Process Inventory $42,400 $??
Finished Goods Inventory $35,600 $??

Additional information for the year is as follows:

Direct materials used $202,600
Direct labor $154,000
Manufacturing overhead applied $164,800
Cost of goods manufactured $526,700
Cost of goods sold $547,900

What was the ending Finished Goods Inventory balance on 12/31?

 

Accounting Basics, Accounting

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