The following data (in thousands of dollars) have been taken from the accounting records of Karstone Corporation for the just completed year.
|
ales |
$880 |
|
Raw materials inventory, beginning |
$20 |
|
Raw materials inventory, ending |
$30 |
|
Purchases of raw materials |
$150 |
|
Direct labor |
$180 |
|
Manufacturing overhead |
$230 |
|
Administrative expenses |
$100 |
|
Selling expenses . |
$130 |
|
Work in process inventory, beginning |
$80 |
|
Work in process inventory, ending |
$30 |
|
Finished goods inventory, beginning |
$120 |
|
Finished goods inventory, ending |
$100 |
The cost of goods sold for the year (in thousands of dollars) was:
A) $620
B) $580
C) $720
D) $700