During its first year of operations martin company paid, Ask an Expert

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During its first year of operations, Martin Company paid $4,000 for direct materials and $8,500 for production workers' wages. Lease payments and utilities on the production facilities amounted to $7,500 while general, selling, and administrative expenses totaled $3,000. The company produced 5,000 units and sold 4,000 units at a price of $7.50 a unit.

What is the amount of ending finished goods inventory for the first year?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9431724

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