Question
Panther Co. had a quality-assurance warranty liability of $354,000 at the beginning of 2018 and $307,000 at the end of 2018. Warranty expense is based
Panther Co. had a quality-assurance warranty liability of $354,000 at the beginning of 2018 and $307,000 at the end of 2018. Warranty expense is based on 4% of sales, which were $40 million for the year. What were the warranty expenditures for 2018?
- $1,600,000.
- $1,553,000.
- $1,647,000.
- $0.
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Accounting For Inventory
Authors: Steven M. Bragg
2nd Edition
1938910648, 9781938910647
