COST OF GOODS SOLD SECTION The following information is supplied for R&D Manufacturing Co. and WP West
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COST OF GOODS SOLD SECTION The following information is supplied for R&D Manufacturing Co. and WP West Co. (a merchandising company). Prepare the cost of goods sold sections for the income statements of both companies for the year ended20--.
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R&D Manufacturing WP West Merchandise inventory, January 1 Finished goods inventory, January 1 Merchandise purchases Cost of goods manufactured Merchandise inventory, December 31 Finished goods inventory, December 31 $57,000 $57,000 36,000 36,000 44,000 44,000
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