Question: Youngstown Rubber reports the following data for its first year of operation.
Direct materials used= $711,000
Cost of goods manufactured= $680,600
Finished goods inventory, ending= $191,000
Manufacturing Overhead= 100,000
Finished goods inventory, beginning = 0
Work in process inventory, beginning = 0
Work in process inventory, ending = 130,400
What is the cost of goods sold?
A. $1,491,600
B. $459,200
C. $489,600
D. $680,600