Bridges Corporation The following information has been taken from the cost records of Bridges Corporation for the past year: Raw material used in production $336 Total manufacturing costs charged to production during 711 the year (includes direct material, direct labor, and overhead equal to 50% of direct labor cost) Cost of goods available for sale 851 Selling and Administrative expenses 35
Inventories Begining Ending

Raw material $80 $90

Work in process 85 25
Finished goods 80 105
Refer to Bridges Company.Cost of Goods Sold was

Question

Bridges Corporation
The following information has been taken from the cost records of Bridges Corporation for the past year:
Raw material used in production                                                $336
Total manufacturing costs charged to production during            711
the year (includes direct material, direct labor, and
overhead equal to 50% of direct labor cost)
Cost of goods available for sale                                                  851
Selling and Administrative expenses                                           35

Inventories	Begining	Ending
Raw material	$80	$90
Work in process	85	25
Finished goods	80	105

Refer to Bridges Company.Cost of Goods Sold was

Quizplus · Accepted Answer

The cost of goods sold can be calculated by adding the beginning inventory, purchases, and freight-in and subtracting the ending inventory. Based on the information provided, the calculation would be: 
Beginning Inventory: $295 
Purchases: $384 
Freight-In: $50 
Total Cost: $729 
Ending Inventory: $(-17) 
Cost of Goods Sold: $746 
Therefore, the correct answer is B.

Bridges Corporation The Following Information Has Been Taken from the Cost Records