Given the following information, determine the cost of goods…
Given the following information, determine the cost of goods sold. Direct Labor Incurred $61,000 Manufacturing Overhead Incurred 176,500 Direct Materials Used 154,000 Finished Goods Inventory, Jan. 1 198,000 Finished Goods Inventory, Dec. 31 98,500 Work-in-Process Inventory, Jan. 1 222,000 Work-in-Process Inventory, Dec. 31 109,000