An auditor for the Internal Revenue Service is trying to reconstruct some partially destroyed records of two taxpayers. For each of the cases in the accompanying list, find the unknowns designated by the letters A through D. Case 1 (in thousands) s 6,000 Accounts receivable, 1231 Cost of goods sold Accounts payable, 1/1 3,000 Accounts payable, 12/31 1,800 Finished goods inventory, 12/31 Gross margin 11,300 Work-in-process inventory, 1/1 Work-in-process inventory, 12/31 Finished goods inventory, 1/1 4,000 Direct materials used 8,000 Direct manufacturing labor 3,000 Manufacturing overhead costs 7,000 Purchases of direct materials 9,000 Revenues 32,000 Accounts receivable, 1/ 2,000

Chapter 2. Problem 42CP Bookmark Show all steps: 1 Problem A N Finding unknown amounts. An auditor for the Internal Revenue Service is trying to reconstruct some partially destroyed records of two taxpayers. For each of the cases in the accompanying list, find the unknowns designated by the letters A through D. Case 1 (in thousands) Accounts receivable, 12/31 Cost of goods sold Accounts payable, 1/1 Accounts payable, 12/31 Finished goods inventory, 12/31 Gross margin Work-in-process inventory, 1/1 Work-in-process inventory, 12/31 Finished goods inventory, 1/1 Direct materials used Direct manufacturing labor Manufacturing overhead costs Purchases of direct materials Revenues Accounts receivable, 1/1 $ 6,000 A 3,000 1,800 B 11,300 0 0 4,000 8,000 3,000 7,000 9,000 32,000 2,000 Chapter 2. Problem 42CP Bookmark Show all steps: