Question
A company's trial balance shows the following balances: Account Balance ($) Raw Materials Inventory $300,000 Work in Process Inventory $280,000 Finished Goods Inventory $320,000 Direct
A company's trial balance shows the following balances:
Account | Balance ($) |
Raw Materials Inventory | $300,000 |
Work in Process Inventory | $280,000 |
Finished Goods Inventory | $320,000 |
Direct Labor | $360,000 |
Factory Rent | $145,000 |
Factory Utilities | $80,000 |
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
