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Using $2906000 as the cost of goods manufactured, compute the cost of goods sold using...

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Accounting

Using $2906000 as the cost of goods manufactured, compute the cost of goods sold using the following information.

Raw materials inventory, January 1 $ 20000
Raw materials inventory, December 31 40000
Work in process, January 1 18000
Work in process, December 31 12000
Finished goods, January 1 40000
Finished goods, December 31 32000
Raw materials purchases 1560000
Direct labor 760000
Factory utilities 150000
Indirect labor 50000
Factory depreciation 400000
Operating expenses 420000

$2914000.

$2874000.

$2898000.

$2912000.

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