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Silky Sounds manufactures and sells a new line of radio players. Unfortunately, Silky Sounds suffered serious fire damage at its home office. As a result,
Silky Sounds manufactures and sells a new line of radio players. Unfortunately, Silky Sounds suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyed-and completely jumbled. Silky Sounds has hired you to help figure out the missing pieces of the accounting puzzle. Assume that Silky Sounds' raw materials inventory contains only direct materials. (Click the icon to view the amounts.) Requirement Find the following amounts: a. Cost of goods sold in October b. Beginning raw materials inventory c. Ending finished goods inventory Requirement a. Find the cost of goods sold in October. Determine the cost of goods sold in October by completing the following table. (Enter in the known amounts, then determine the missing amounts.) Requirement b. Find the beginning raw materials inventory. Determine the beginning raw materials inventory by completing the following table. (Enter in the known amounts, then determine the missing amounts.) Now determine the ending finished goods inventory. (Enter in the known amounts, then determine the missing amounts.) Beginning finished goods inventory Cost of goods manufactured Cost of goods available for sale Ending finished goods inventory Cost of goods sold
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