Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 8 (1 point) Potter Limited has calculated their cost of goods sold to be $929,600. The company had beginning finished goods inventory of $67,000
Question 8 (1 point) Potter Limited has calculated their cost of goods sold to be $929,600. The company had beginning finished goods inventory of $67,000 and the cost of goods manufactured was $944,000. The company's ending finished goods inventory was $52,600 $14,400 Cannot be calculated from the information provided. O $81,400 Question 9 (1 point) Abbott Manufacturing Limited has the following accounts for the year ended December 31, 2017. Beginning work-in process inventory Ending work-in-process inventory Ending Raw materials inventory Cost of direct materials purchased in 2017 Beginning finished goods inventory Ending finished goods inventory $567,000 $653,000 $22,300 $334.000 $92,400 $88,900 Abbott's 2017 balance sheet will show total ending inventory of O $111,200 O $764,200 O $88,900 O $653,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started