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Myles Manufacturing Company's accounting records reflect the following inventories:                              &

Myles Manufacturing Company's accounting records reflect the following inventories:

                                                Dec. 31, 2014             Dec. 31, 2013

Raw materials inventory        $620,000                     $820,000

Work in process inventory     300,000                     220,000

Finished goods inventory       380,000                     100,000

During 2014, $900,000 of raw materials were purchased, direct labor costs amounted to $1,000,000, indirect labor costs amounted to $300,000, and manufacturing overhead was $960,000.

Based upon the above information, cost of goods sold for the year is:

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ekkarill92 answered 1 year ago
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