Assume the following information: Direct materials used
£ 90,000
Direct labour
130,000
Factory overhead
150,000
Beginning work-in-progress inventory
15,000
Beginning finished goods inventory
20,000
Ending work-in-progress inventory
42,000
Selling and administrative expenses
37,500
What was the cost of goods manufactured during the year?
A) £370,000
B) £365,000
C) £343,000
D) £333,000
Correct Answer:
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