Exercise 1-11 Cost of goods sold computation LO P1

	Unimart				Precision Manufacturing
Beginning inventory
Merchandise		$	282,000
Finished goods						$	564,000
Cost of purchases			530,000
Cost of goods manufactured							830,000
Ending inventory
Merchandise			182,000
Finished goods							176,000

Compute cost of goods sold for each of these two companies for the year ended December 31, 2017.

Compute cost of goods sold for the company year ended December 31, 2017 in Merchandising Business.

UNIMART
Partial Income Statement
For Year Ended December 31, 2017
Cost of goods sold:
Goods available for sale
Cost of goods sold

Compute cost of goods sold for the company year ended December 31, 2017 in Manufacturing Business.

PRECISION MANUFACTURING
Partial Income Statement
For Year Ended December 31, 2017
Cost of goods sold:
Goods available for sale
Cost of goods sold