Academic Help Online

The following inventory balances relate to Lequin Manufacturing Corporation at the beginning and end of the year:
Beginning Ending
Raw materials $14,000 $19,000
Work in proces $31,000 $7,000
Finished goods $25,000 $23,000
Lequin’s total manufacturing cost was $543,000. What was Lequin’s cost of goods sold?
Answer
a. $517,000
b. $545,000
c. $569,000
d. $567,000