For work done during August,Printing Press Company incurred direct materials costs of $130,000 and conversion costs of $248,000.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?

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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 $248,000.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?

For Work Done During August,Printing Press Company Incurred Direct Materials