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Modern style constructs and sells exclusive tables. The selling price of tables is USD 15,000 per table. A unique feature is that the only raw
Modern style constructs and sells exclusive tables. The selling price of tables is USD 15,000 per table. A unique feature is that the only raw material used in the construction of each table, other than indirect materials like glues and screws, comes entirely from a single tree. Tree prices and other cost of production have remained stable and the company is able to use each tree purchased without incurring any significant spoilage. Consider the following disorganized information and answer the questions below. Required: a. Prepare a Schedule of Cost of Goods Manufactured in good form. b. Compute the Cost of Goods Sold. c. Using data from your answers, prepare Income statement
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