Company C produced 10,000 units of Product C-123 for the month of October 200A. The prime cost for the month is $50,000, the direct labor is $15,000, and the manufacturing overhead cost is $10,000. Company C sold 8,000 units in October for $10 per unit. Also, there were no ending inventories for the month of September 200A. How much is the total cost of goods sold for the month of October 200A?

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.