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Question - The Lubbock Manufacturing Company (LMC) has the following inventory data (stated in thousands). Raw Materials: Beginning $200, Ending $700. Work-n-Process (WIP): Beginning $500, Ending $400. Finished Goods: Beginning $750, Ending $900. Cost of Goods Available for Sale was $2,000. What was cost of goods sold?

A. $150      

B. $1,100

C. $1,250

D. $1,850

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92407707
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