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A company's trial balance shows the following balances: Account Balance ($) Raw Materials Inventory $50,000 Work in Process Inventory $40,000 Finished Goods Inventory $60,000 Direct
A company's trial balance shows the following balances:
Account | Balance ($) |
Raw Materials Inventory | $50,000 |
Work in Process Inventory | $40,000 |
Finished Goods Inventory | $60,000 |
Direct Labor | $70,000 |
Factory Rent | $25,000 |
Factory Utilities | $15,000 |
Prepare a cost of goods sold statement using absorption costing method.
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