Lopez Corporation incurred the following costs while manufacturing its product.
Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January 1 and $45,600 at December 31.
Instructions
(a) Compute cost of goods manufactured.
(b) Compute cost of goods sold.
Compute cost of goods manufactured and sold.
(LO 3), AP
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