For the coming year, Rian Company wants to reduce its average production cycle to thirty days If the target ending inventory for 2009 is $61,000, what cost of goods sold will the company need to reach its goal Use the below information for solving the question 2008 Selected Income Statement Items f...

Working backwards through the equations for ave ...

For the coming year, Rian Company wants to reduce its average production cycle to thirty days. If

Question:

For the coming year, Rian Company wants to reduce its average production cycle to thirty days. If the target- for 2009 is $61,000, what cost of goods sold will the company need to reach its goal?
Use the below information for solving the question
2008 Selected Income Statement Items for Rian Company
Cash Sales ..... $ 298,000
Credit Sales ...... $ 672,000
Total Sales ..... $ 970,000
Cost of goods sold .. $ 570,000

2007 & 2008 Selected Accounts of RianCompany

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...