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The Balance in Electric Industries' Finished Goods Account at December

Question 28

Multiple Choice

The balance in Electric Industries' Finished Goods account at December 31 was $325,000.Its December cost of goods manufactured was $1,350,000,its total manufacturing costs were $1,500,000 and its cost of goods sold in December was $1,455,000.What was the balance in Electric's Finished Goods at December 1?


A) $280,000
B) $220,000
C) $370,000
D) $430,000

Correct Answer:

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