Hazan Corp

question 34

Short Answer

Hazan Corp. started the year with $200,000 in inventory. During the year, it applied the following costs to inventory: direct labor of $1,000,000; raw materials of $2,000,000; and overhead of $1,000,000. The ending inventory had a cost of $300,000. Find the cost of goods sold. (Assume the cost of goods sold includes any shrinkage.)______