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Archy [21]
2 years ago
9

Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured

of $437,000. Suppose that on June 1, Slapshot had 350 units in finished goods inventory costing $80,000 and on June 30, 370 units in finished goods inventory costing $84,000.
1. Prepare a cost of goods sold statement for the month of June.
Slapshot Company
Cost of Goods Sold Statement
For the Month of June
*Cost of goods sold
*Cost of goods Inventory, June 1
*Finished goods inventory June 30
*Work In process, June 1
___*___ $_____
___*___ _____
___*__ _____
__*____ $_____
2. Calculate the number of sticks that were sold during June.
units
Business
1 answer:
11Alexandr11 [23.1K]2 years ago
5 0

Answer:

1. <u>Cost of goods sold statement</u>

Cost of goods sold Inventory, June 1             $80,000

Add: Cost of goods manufactured                 <u>$437,000</u>

Cost of goods available for sale                     $517,000

Less: Cost of goods sold Inventory, June 31 <u>$84,000</u>

Cost of goods sold                                          <u>$433,000</u>

2. <u>Number of sticks sold during June</u>

Units on June 1                           350

Add: Manufactured in June       <u>1,900</u>

Sticks available for sale             2,250

Less: Ending units June 30       <u>370   </u>

Number of sticks sold               <u>1,880</u>

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<u></u>

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