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Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of
Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of all the jobs for the quarter:
Balance | |
Job No. 356 | $ 450 |
Job No. 357 | 1,235 |
Job No. 358 | 378 |
Job No. 359 | 689 |
Job No. 360 | 456 |
Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 on each job. What is the ending balance of Finished Goods for Adams Company at the end of the first quarter?
a.$1,067
b.$1,685
c.$2,752
d.$456
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