The following data (in thousands of dollars) have been taken from the accounting records of Karsten Corporation for the just completed year.
|
Sales |
$990 |
|
Raw materials inventory, beginning |
$70 |
|
Raw materials inventory, ending |
$30 |
|
Purchases of raw materials |
$100 |
|
Direct labor |
$200 |
|
Manufacturing overhead |
$160 |
|
Administrative expenses |
$180 |
|
Selling expenses |
$150 |
|
Work in process inventory, beginning |
$40 |
|
Work in process inventory, ending |
$70 |
|
Finished goods inventory, beginning |
$150 |
|
Finished goods inventory, ending |
$130 |
The cost of goods sold for the year (in thousands of dollars) was:
A) $490
B) $450
C) $620
D) $600