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Alecsey [184]
3 years ago
15

Nadell Corporation reported the following data for the month of AprilInventory Beginning Ending Raw Materials $30,000 $32,000 Wo

rk in Process $20,000 $21,000 Finished Goods $39,000 $53,000If the company transferred $234,000 of completed goods from work in process to finished goods inventory during April, what was the cost of goods sold for the month?
Business
1 answer:
jeyben [28]3 years ago
7 0

Answer:

COGS= $181,000

Explanation:

Giving the following information:

Beginning Finished Goods= $39,000

Ending Finished Goods= $53,000

Cost of goods manufactured= 234,000 - 39,000= $195,000

<u>To calculate the cost of goods sold, we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 39,000 + 195,000 - 53,000

COGS= $181,000

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3 years ago
Although some laws concerning cash dividends vary by state, which provision is followed by all states?
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3 0
2 years ago
Which of the following is true regarding the trial balance? Select all that apply. The trial balance includes all of the account
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Complete Question:

Which of the following is true regarding the trial balance? Select all that apply.

a) The trial balance includes all of the accounts needed to create the balance sheet and the income statement.

b) The trial balance is much less detailed than the balance sheet and income statement.

c) The accounting principle of materiality says that the information on the trial balance can be combined and simplified into more general reporting items.

d) The accounting principle of money measurement says that the information on the trial balance can be combined and simplified into more general reporting items.

e) The trial balance shows only nominal accounts.

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a) The trial balance includes all of the accounts needed to create the balance sheet and the income statement.

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