Question
A company's trial balance shows the following balances: Account Balance ($) Raw Materials Inventory $400,000 Work in Process Inventory $380,000 Finished Goods Inventory $420,000 Direct
A company's trial balance shows the following balances:
Account | Balance ($) |
Raw Materials Inventory | $400,000 |
Work in Process Inventory | $380,000 |
Finished Goods Inventory | $420,000 |
Direct Labor | $420,000 |
Factory Rent | $175,000 |
Factory Utilities | $90,000 |
Prepare a cost of goods sold statement using absorption costing method.
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Financial Statement Analysis and Security Valuation
Authors: Stephen Penman
5th edition
78025311, 978-0078025310
