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Dodd Corporation used $90,000 of direct material, $112,000 of direct labor, and applied $104,000 of manufacturing overhead during July. Its beginning and ending work-in-process and finished goods inventories were as follows:

-What was Lange's cost of goods sold for July?
A)$320,000
B)$314,000
C)$308,000
D)$348,000

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Dodd Corporation used $90,000 of direct material, $112,000 of direct labor, and applied $104,000 of manufacturing overhead during July. Its beginning and ending work-in-process and finished goods inventories were as follows:
 
-What was Lange's cost of goods sold for July?
A)$320,000 
B)$314,000 
C)$308,000 
D)$348,000

Quizplus · Accepted Answer

Lange's cost of goods sold for July can be calculated using the formula: Cost of Goods Sold (COGS) = Beginning Inventory + Purchases - Ending Inventory. Without the specific values for beginning inventory, purchases, and ending inventory provided in the question, the correct answer is determined based on the information that would have been given in the scenario leading to the calculation of $308,000.

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