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2 years ago

Use the following data to calculate the cost of goods sold for the period:

Business

1 answer:

PtichkaEL [24]2 years ago

4 0

Answer:

The cost of goods sold for the period is:

= $250,600.

Explanation:

a) Data and Calculations:

Beginning Raw Materials Inventory $30,600

Ending Raw Materials Inventory 70,600

Beginning Work in Process Inventory 40,600

Ending Work in Process Inventory 46,600

Beginning Finished Goods Inventory 72,600

Ending Finished Goods Inventory 68,600

Cost of Goods Manufactured for the period 246,600

To determine the cost of goods sold:

Beginning Finished Goods Inventory $ 72,600

Cost of Goods Manufactured for the period 246,600

Cost of goods available for sale $319,200

Ending Finished Goods Inventory (68,600)

Cost of goods sold $250,600

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3 years ago

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3 years ago

Bailey Corp. has the following information: Beginning Inventory (Jan 1) Ending Inventory (Dec 31) Raw Materials Inventory $ 25,3

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Answer:

See below

Explanation:

The cost of goods manufactured is computed as;

Beginning inventory

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Raw materials purchases

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Ending inventory

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3 years ago

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3 years ago