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A manufacturing company had a balance in Finished Goods Inventory of $200,000 on 12/31/2011. During...

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Accounting

A manufacturing company had a balance in Finished Goods Inventory of $200,000 on 12/31/2011. During 2012, the company tranferred $1,000,000 of costs from Work in Process of Finished Goods. A count of inventory at the end of the year revealed a balance in Finished Goods of $400,000 at 12/31/2012. What was Cost of Goods sold during 2012?

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