A company had beginning inventories as follows: Direct Materials, $300; Work-in-Process, $500; Finished Goods, $700. It had ending inventories as follows: Direct Materials, $400; Work-in-Process, $600; Finished Goods, $800. Material Purchases (net including freight) were $1,400, Direct Labor $1,500, and Manufacturing Overhead $1,600. What is the Cost of Goods Sold for the period?

Cost of Goods Sold is $4,200.

Explanation:

Cost of Goods Sold

Beginning Direct Materials   $300

+ Material Purchases             $1,400

- Ending Direct Materials       $400

Total material Cost                             $1,300

Direct Labor                                        $1,500

Manufacturing Overhead                   $1,600

Total manufacturing Cost                                 $4,400

+ Beginning Work-in-Process                           $500

- Ending Work-in-Process                                 $600

Cost of Goods Manufactured                                      $4,300

+ Beginning Finished Goods,                                       $700

- Ending Finished Goods,                                             $800

Cot of Goods Sold                                                        $4,200

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