Schedule of cost goods sold

Schedule of cost goods sold

For the year ended December 31, 20×2

Particular Amounts
Finished goods inventory, January 1 35,000
Add: cost of goods manufactured 1,772,500
Cost of goods available for sale 1,807,500
Less: finished goods inventory, December 31 40,000
Cost of goods sold 1,767,500
Add: under applied manufacturing overhead

($580,000-$577,500)

2,500
Cost of goods sold (adjusted for under applied overhead) 1,770,000

 

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