Question
A company's trial balance shows the following balances: Account Balance ($) Raw Materials Inventory $500,000 Work in Process Inventory $480,000 Finished Goods Inventory $520,000 Direct
A company's trial balance shows the following balances:
Account | Balance ($) |
Raw Materials Inventory | $500,000 |
Work in Process Inventory | $480,000 |
Finished Goods Inventory | $520,000 |
Direct Labor | $480,000 |
Factory Rent | $200,000 |
Factory Utilities | $110,000 |
Prepare a cost of goods sold statement using absorption costing method.
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Financial accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
IFRS Edition
9781119153726, 978-1118285909
