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This document outlines the calculation of cost of goods sold using a standard manufacturing costing formula. It starts with beginning inventory and purchases to calculate material available, then subtracts ending material use to get total material used. It then adds direct labor, factory overhead, and beginning work in process to calculate cost of goods in the processing period, then subtracts ending work in process to get cost of goods manufactured, which is added to beginning finished goods to get cost of goods available for sale, and then subtracts ending finished goods to calculate cost of goods sold. Additional expenses are then added to cost of goods sold to calculate total cost.Read less