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Ryker Manufacturing,Inc The Inventory Account Balances as of January 1 Are Given

question 174

Multiple Choice

Ryker Manufacturing,Inc.provided the following information for the year: $\begin{array} { | l | r | } \hline \text { Purchases - Direct Materials } & \$ 91,000 \\\hline \text { Plant Utilities and Insurance } & 66,000 \\\hline \text { Indirect Materials Used } & 11,240 \\\hline \text { Indirect Labor } & 4830 \\\hline \text { Direct Materials Used in Production } & 98,000 \\\hline \text { Direct Labor } & 118,500 \\\hline \text { Depreciation on Factory Plant and Equipment } & 8000 \\\hline \text { Cost of Goods Manufactured } & 292,000 \\\hline \text { Cost of Goods Sold } & 290,000 \\\hline\end{array}$ The inventory account balances as of January 1 are given below.
$\begin{array} { | l | r | } \hline \text { Direct Materials } & \$ 45,000 \\\hline \text { Work-in-Progress Inventory } & 11,000 \\\hline \text { Finished Goods Inventory } & 304,570 \\\hline\end{array}$ What is the ending balance in the Finished Goods Inventory?

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Definitions:

Water

A colorless, tasteless, and odorless substance in its pure form, essential for all known forms of life, and a key component of bodily fluids.

Healthy Nutrition

Eating a balanced diet rich in fruits, vegetables, whole grains, and lean proteins to maintain overall health and wellbeing.

Fat-Soluble Vitamins

Vitamins that can be stored in the body's fatty tissue and liver, including vitamins A, D, E, and K.

Vegans

Individuals who abstain from consuming animal products and by-products, often for ethical, health, or environmental reasons.