Question
LG Electronics has a beginning finished goods inventory of $1,200,000 and an ending finished goods inventory of $1,500,000. During the period, the cost of goods
LG Electronics has a beginning finished goods inventory of $1,200,000 and an ending finished goods inventory of $1,500,000. During the period, the cost of goods manufactured is $30,000,000. Calculate the cost of goods sold for LG Electronics. Prepare the balance sheet after the formation of the partnership.
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Essentials of Accounting for Governmental and Not-for-Profit Organizations
Authors: Paul A. Copley
10th Edition
007352705X, 978-0073527055
