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Rashid [163]
2 years ago
9

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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On July 1, 2020, Whispering Co. pays $13,620 to Metlock Insurance Co. for a 3-year insurance policy. Both companies have fiscal
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true or false: the profit margin is the financial gain from a sale after the costs of providing the sold product have been deduc
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The profit margin is the financial gain from a sale after the costs of providing the sold product have been deducted. Thus, the statement is true.

<h3>What is the profit margin?</h3>

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Comparing the firm's operations to those of a best-in-class company, maybe in a different industry, is another way to increase your profit margin. This comparison could point out several operational tweaks that could be done to raise profit margins.

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