Question - X Company began operations in 2016. It manufactured a single product and sold 8,000 units for $180 each. The following information is for 2016:
Units produced 9,200
Direct materials purchased $513,228
Direct materials used $502,228
Direct labor costs $238,188
Overhead costs $117,852
Selling and admin costs $138,092
There was no beginning balance in any inventory account. There was no closing balance in the Work in Process inventory account. What was Cost of Goods Sold for the year?