Conrad, Inc. recently lost a portion of its records in an office fire. The following information...

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Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accoun

business accounting

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Answer 1

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Answer #1

Finished goods inventory at the beginning of the year: $20915

Working backwards from the cost of goods sold:

Cost of goods manufactured $	61410
Add: Beginning finished goods	20915
Cost of goods available for sale	82325
Less: Ending finished goods	15825
Cost of goods sold $	66500

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