Part One: In 2015, Pamela Webber opened Pamela's Posies, a small retail shop selling foral Part Two: Pamela's Posies was so successful that Pamela decided to manufacture her own brand Part Three: Show the ending inventories that would appear on these balance arrangements. of floral supplies: Flaral Manufacturing sheets: (Click the icon to view the records.) (Click the icon to view the records.) (Click the icon to view additional information) Read the requirement (Part One) Read the requirements (Part Two), Part One Begin by calculating the cost of goods sold for the year. Pamela's Posies Calculation of Cost of Goods Sold For the Year Ended December 31, 2016 Beginning inventory $12.900 Plus: Purchases 39,500 Cost of goods available for sale 51,400 Less: Encing inventory 9.900 Cast of goods sold S41,500 Now prepare an income statement for Pamela's Posies, a merchandiser, for the year ended December 31, 2016 Pamela's Posies Income Statement For the Year Ended December 31, 2016 Sales revenue 362,000 Cost of goods Less: sold 41,500 Grass profit 10,500 Operating Less: expenses Rent expense $3.200 Utilities expense 1.400 Sales commissions expense 4,700 9,300 Operating income S 1,200 Part Two: Requirement 1. Calculate the cost of Goods Manufactured for Floral Manufacturing for the year ended December 31, 2017 Begin by calculating the direct materials used during the year. Floral Manufacturing Calculation of Direct Materials Used For the Year Ended December 31, 2017 Beginning raw materials inventory 0 Plus: Purchases of direct materials Ending raw materials Less: inventory Materials available for use X Data Table On December 31, 2016, her accounting records show the following: Sales revenue. $ 52,000 $ 1,400 $ 9,900 Utilities for shop Inventory on December 31, 2016 Inventory on January 1, 2016 Rent for shop. . Sales commisions. $ 12,900 $ 3,200 $ 4,700 Purchases of merchandise $ 38,500 Print Done Data Table At the end of December 2017, her accounting records show the following: $ $ 4,300 2,500 4,200 $ Utilities for plant Delivery expense. . Sales salaries expense. Plant janitorial services. Work in process inventory, December 31, 2017. Finished goods inventory, December 31, 2016 Finished goods inventory, December 31, 2017 $ 1,850 $ 6,000 $ 0 $ Sales revenue...... Customer service hotline expense Direct labor A A A A A 5,500 103,000 1,700 25,000 38,000 8,200 10,000 Direct material purchases Rent on manufacturing plant Raw materials inventory, December 31, 2016 Raw materials inventory, December 31, 2017 Work in process inventory, December 31, 2016... $ $ 8,500 $ 0 Print Done More Info 1. 2. Pamela's Posies at December 31, 2016 Floral Manufacturing at December 31, 2017 Print Done