Compute cost of goods sold for year 2011 using the following information.
|
Finished goods inventory, Dec 31, 2010 |
$321,500 |
|
Goods in process inventory, Dec 31, 2010 |
74,550 |
|
Goods in process inventory, Dec 31, 2011 |
81,200 |
|
Cost of goods manufactured, year 2011 |
972,345 |
|
Finished goods inventory, Dec 31, 2011 |
297,200 |