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HPX, the manufacturer of inexpensive printers, was organized in May, 2020. HPX purchases toner cartridges used in the printers from a local distributor. Early in
HPX, the manufacturer of inexpensive printers, was organized in May, 2020. HPX purchases toner cartridges used in the printers from a local distributor. Early in May. HPX bought 41,000 cartridges at a cost of $20 each. During May, 36,000 cartridges were transferred from Raw Materials Inventory. Of the 36,000 cartridges withdrawn from Raw Materials Inventory. 4,000 were given to sales personnel to be given to customers as an incentive to buy a large quantity of printers. Another 1,000 cartridges were transferred to the corporate office to be used by members of the clerical staff. The remaining cartridges were transferred to production. Of the units started into production during May, 85% of them were completed. Eigh percent of the units completed during May were sold and shipped to customers. Fill in the blanks below based on the information above for the cost of cartridges to be found in each of the following accounts as at May 31, 2020- (Fill in the blanks be sure to not include any commas or decimals unless otherwise stated. For example $1,000.25 should be expressed as 1000.) A. Raw Materials Inventory - $ B. Work in process Inventory - $ C. Finished Goods Inventory - $ D. Cost of Goods Sold - $ E. Selling Expenses - $ F. Administrative Expenses - $
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