Laflin Manufacturing Company reported the following year-end information: Laflin Manufacturing Company's cost of goods manufactured for the year is

Question

Laflin Manufacturing Company reported the following year-end information:  Laflin Manufacturing Company's cost of goods manufactured for the year is

Quizplus · Accepted Answer

To find the cost of goods manufactured, we need to add the beginning work in process inventory to the total manufacturing costs and subtract the ending work in process inventory:

Beginning Work in Process Inventory + Total Manufacturing Costs - Ending Work in Process Inventory = Cost of Goods Manufactured

Using the information provided:

$180,000 + $2,700,000 - $300,000 = $2,580,000

Therefore, the cost of goods manufactured for the year is $2,580,000, which corresponds to choice B.

Laflin Manufacturing Company Reported the Following Year-End Information: Laflin