Weldone Metal Industries

Statement of Cost of Goods Manufactured and Sold

For the year Ended December 31,2018

Raw Materials Inventory, Beginning

Add: Net Cost of Purchases
Materials Purchases 282,500
Less: Purchase Retruns and Allowances 2,500
Total: Materials Available for Use 280,000
Less: Raw Materials Inventory, End 28,000
Direct Labor
Manufacturing Expense:
Total Manufacturing Costs
Less: Work In Process Inventory, End
Cost of Goods Manufactured

Cost of Goods Manufactured

Less: Finished Goods Inventory, End
Cost of Goods Sold
252,000
140,000
210,000
602,000
60,200
541,800

541,800
135,450
406,350

135,450