Edmiston Company Reported the Following Year-End Information: Beginning Work in Process

question 61

Multiple Choice

Edmiston Company reported the following year-end information: beginning work in process inventory $80000; cost of goods manufactured $750000; beginning finished goods inventory $50000; ending work in process inventory $70000; and ending finished goods inventory $40000. How much is Edmiston's cost of goods sold for the year?

• A) $750000
• B) $760000
• C) $740000
• D) $770000

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Definitions:

Propanenitrile

An organic compound with the formula CH3CH2CN, also known as ethyl cyanide, a colorless liquid used as a solvent and in organic synthesis.

Boiling Point

The temperature at which a liquid's vapor pressure equals the external pressure surrounding the liquid, causing it to turn into a vapor.

Propanamide

An organic compound consisting of a propyl chain attached to a nitrogen atom of an amide group.

N-Methylacetamide

An organic compound characterized by a methyl group attached to the nitrogen atom of an acetamide.