Supplemental information shows raw materials purchases of, Ask an Expert

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Guymon Company reported a cost of goods manufactured of $313,000. Supplemental information shows raw materials purchases of $60,000, raw materials used in production of $90,000, direct labor of $107,000, and manufacturing overhead of $113,000. You also know that the company's ending work in process was 40% of its beginning work in process (WIP).

Determine the value of the firm's ending WIP.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9447281

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