Question

Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter. Finished goods inventory, June 1 $116,600 $38,880 (e) Cost of goods manufactured 825,900 (c) 180,000 Cost of finished goods available for sale (a) $540,000 $1,100,000 Finished goods inventory, June 30 130,000 70,000 (f) Cost of goods sold

Answer 1

Answer:

Finished goods inventory is $116,600, $38,880 , $920,000

Cost of Goods Manufactured is $825,900 , $501,120 , $180,000

Cost of finished goods available is $942,500 , $540,000 , 1,100,000

finished Goods inventory is $130,000 , $70,000 , $155,000

Cost of Goods Sold is $812,000, $470,000 , $945,000

Explanation:

The answer to the question is given below :

Finished goods inventory is $116,600 , $38,880 , $920,000

Cost of Goods Manufactured is $825,900 , $501,120 , $180,000

Cost of finished goods available is $942,500 , $540,000 , 1,100,000

finished Goods inventory is $130,000 , $70,000 , $155,000

Cost of Goods Sold is $812,000 , $470,000 , $945,000