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Hi, could you please explain how to calculate ending finished goods from the following information: Prime costs for Toleto Manufacturing Company for the year total
Hi, could you please explain how to calculate ending finished goods from the following information:
Prime costs for Toleto Manufacturing Company for the year total $48,500 and conversion costs are $50,000. Direct material cost for the year is $25,000. Opening work in process was $30,000 and ending work in process is 125% of opening work in process. Ending finished goods inventory is 80% of opening finished goods inventory, and cost of goods sold is $80,000 for the year.
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