ACCOUNTING
Multiple Choice
The following information pertains to the Cannady Corporation:
Beginning work-in-process inventory $ 50,000
Ending work-in-process inventory 48,000
Beginning finished goods inventory 180,000
Ending finished goods inventory 195,000
Cost of goods manufactured 1,220,000
What is cost of goods sold?
a. $1,235,000
b. $1,205,000
c. $1,218,000
d. $1,222,000
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