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Great Sounds manufactures and sells a new line of radios. Unfortunately, Great Sounds suffered serious fire damage at its home office. As a result, the
Great Sounds manufactures and sells a new line of radios. Unfortunately, Great Sounds suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyed and completely jumbled. Great Sounds has hired you to help figure out the missing pieces of the accounting puzzle. Assume that Great Sounds' raw materials inventory contains only direct materials. Work in process inventory, October 31 $ 1,300 Finished goods inventory, October 1 4,?00 Direct labour in October 3,900 Purchases of direct materials in October 9,100 Work in process inventory, October 1 - Revenues in October 27,200 Gross profit in October 12,100 Direct materials used in October 8,500 Raw materials inventory, October 31 3,600 Manufacturing overhead in October 6,000 Required Find the following amounts: a. Cost of goods sold for October b. Beginning raw materials inventory c. Ending finished goods inventory
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