Cost of Goods Sold

Slapshot Company makes ice hockey sticks. During the month of June, 18,000 sticks were completed at a cost of goods manufactured of $483,000. Suppose that on June 1, Slapshot had 5,100 units in finished goods inventory costing $160,000 and on June 30, 7,000 units in finished goods inventory costing $215,000.

1. Prepare a cost of goods sold statement for the month of June.

2. Calculate the number of sticks that were sold during June.

(Determine units sold by starting with beginning units in finished goods inventory, add units completed and subtract units remaining in ending inventory for the number of units sold.)