Compute the Cost of Goods Manufactured and Cost of Goods Sold for Blue Sea Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials
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Start the calculation for cost of goods manufactured by calculating the direct materials used
Blue Sea Company
Calculation of Direct Materials Used
For Current Year
Beginning raw materials inventory $ 27,000
Plus Purchases of direct materials 79,000
Materials available for use 106,000
Less: Ending raw materials iniventory 31,000
Direct materials used 75.000
Calculate the cost of goods manufactured.
Answers: 3
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