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It Is the First Year of Operations at Johnny's Subs

Question 73

Multiple Choice

It is the first year of operations at Johnny's Subs and the cost of all work in process during the year is $830,000. Assuming the cost of finished goods manufactured is $860,000, what is the value of the ending Work in Process inventory?


A) $0.
B) $30,000.
C) Some other amount.
D) This is an impossible situation.

Correct Answer:

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