Solved: If the cost of goods manufactured during the year amounted, Accounting Basics

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If the cost of goods manufactured during the year amounted

Question - Barger Company had the following information at December 31:

Finished goods inventory, January 1 $60,000

Finished goods inventory, December 31 84,000

If the cost of goods manufactured during the year amounted to $1,330,000 and annual sales were $1,996,000, how much is the amount of gross profit for the year?

a. $666,000

b. $606,000

c. $1,306,000

d. $690,000

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Accounting Basics: If the cost of goods manufactured during the year amounted

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