Compute the cost of goods manufactured and cost of goods sold?
In its first year of operations, Gilmore manufacturing company purchased $44,000 of direct materials and incurred $7,600 of direct labor costs during the year. Indirect labor amounted to $3,000 while indirect materials totaled $5,200. Factory depreciation totaled $18,800.Selling expenses were $15,400. The only inventory was $10,500 of finished goods at year-end.
Your tutorial is attached in Excel and shows you how to arrange the data to get the needed amounts.