Laramie Company_cost of goods sold

| August 13, 2017

10 points

Laramie Company has the following
inventory balances, in dollars, for the current year:

Beginning

Ending

Raw Materials

8,20,000

8,12,000

WIP

1,35,000

1,46,000

Finished Goods

4,91,000

5,16,000

Materials purchases were $2,544,000
and direct labor was $3,200,000.
Overhead is applied at 60% of direct labor.

Required: Compute cost of goods sold for the year.

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