Frank Inc's data from the year just ended (below), compute cost of goods soid:
Purchases of raw material, $26,000
Indirect materials transferred to manu. overhead $6,000
Direct labor, $58,000
Applied manu. overhead $97,000
raw materials
beginning ending
$23,000 $17,000
work in process inventory $32,000 $66,000
finished goods
$30,000 $23,000