Ilyas Corp

question 32

Short Answer

Ilyas Corp. started the year with $2,000,000 in inventory. During the year, it applied the following costs to inventory: direct labor of $6,000,000; raw materials of $2,000,000; and overhead of $10,000,000. The total cost of goods sold and shrinkage was $17,000,000. Find the ending inventory.______

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Definitions:

Workers

Individuals engaged in a physical or mental activity to achieve a purpose or result, often in exchange for payment.

Visible Minorities

Individuals from racial or ethnic groups that are not in the majority within a specific community or country, often marked by visible differences.

Labour Shortages

A situation in which there are insufficient qualified candidates available to fill the positions needed by employers in the labor market.

Employee Engagement

The emotional commitment an employee has to their organization and its goals, resulting in the use of discretionary effort in their work.