Luebke Inc. has provided the following data for the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $51,200 and at the end of the month was $30,100. The cost of goods manufactured for the month was $211,000. The actual manufacturing overhead cost incurred was $55,700 and the manufacturing overhead cost applied to Work in Process was $57,500. The adjusted cost of goods sold that would appear on the income statement for November is:
Please find my response attached.
First we need to calculate the Cost of Goods Sold (unadjusted)
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