For work done during August, Printing Press Company incurred direct materials costs of $130,000 and conversion costs of $259,000. The company employs a just-in-time operating philosophy and backflush costing. At the end of August, it was determined that the Work in Process Inventory account had been assigned $1,000 of costs, and the ending balance of the Finished Goods Inventory account was $3,000. There were no beginning inventory balances. What is the Cost of Goods Sold account's ending balance for August?
A) $389,000
B) $388,000
C) $386,000
D) $385,000

Question

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The Answer of For work done during August, Printing Press Company incurred direct materials costs of $130,000 and conversion costs of $259,000. The company employs a just-in-time operating philosophy and backflush costing. At the end of August, it was determined that the Work in Process Inventory account had been assigned $1,000 of costs, and the ending balance of the Finished Goods Inventory account was $3,000. There were no beginning inventory balances. What is the Cost of Goods Sold account's ending balance for August?
A) $389,000
B) $388,000
C) $386,000
D) $385,000

For Work Done During August, Printing Press Company Incurred Direct