A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of $18,000, cost of goods manufactured of $35,200, and an ending finished goods inventory of $18,700. The cost of goods sold for this company is: A.
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Meadow Company produces hand tools. A sales budget for the next four months is as follows: March 10,500 units, April 13,600, May 16,600 and June 21,000. Meadow Company's ending finished goods inventory policy is 10% of the following month's sales.
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