Question
A company's trial balance shows the following balances: Account Balance ($) Raw Materials Inventory $70,000 Work in Process Inventory $60,000 Finished Goods Inventory $80,000 Direct
A company's trial balance shows the following balances:
Account | Balance ($) |
Raw Materials Inventory | $70,000 |
Work in Process Inventory | $60,000 |
Finished Goods Inventory | $80,000 |
Direct Labor | $90,000 |
Factory Rent | $35,000 |
Factory Utilities | $20,000 |
Prepare a cost of goods sold statement using absorption costing method.
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
16th edition
1259307417, 978-1260153132, 1260153134, 978-1259307416
