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Question 6 of 6 The following information is available for Aikman Company. 2020 January 1, 2020 $22,390 15,490 30,680 December 31, 2020 $35,370 20,810 22,680 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $154,520 225,310 183,260 901,680 Your Answer Correct Answer Alkman Company Cost of Goods Manufactured Schedule Work-in-Process Inventory, 1/1 Direct Materials Raw Materials Inventory, 1/1 22390 Materials Purchased 154520 Materials Available for Use 176910 Less: Raw Materials Inventory, 12/31 35370 Direct Materials Used 141540 Direct Labor 225310 183260 Manufacturing Overhead Total Manufacturing Costs Total Cost of Work-in-Process Inventory Less Work-In-Process Inventory, 12/31 Cost of Goods Manufactured e Textbook and Media Solution Attempts: 7 of 7 used is correct ds manufactured Aikman Company Cost of Goods Manufactured Schedule 15490 22390 154520 176910 35370 i 141540 225310 183260 550110 565600 20810 i $ 544790 and Media Attemptss 7 of 7 used Your answer is correct. Prepare an income statement through gross profit. AIKMAN COMPANY Income Statement (Partial) For the Year Ended December 31, 2020 901680 ales Revenue ost of Goods Sold 30680 Finished Goods Inventory 1/1 544790 i Cost of Goods Manufactured 575470 i Cost of Goods Available for Sale 22680 Less : Finished Goods Inventory, 12/31 552790 Cost of Goods Sold $ 348890 ross Profit e Textbook and Media Attempts: 2 of 7 used (c) Show the presentation of the ending inventories on the December 31, 2020, balance sheet Show the presentation of the ending inventories on the December 31, 2020, balance sheet. AIKMAN COMPANY (Partial) Balance Sheet $ $ Attempts: 0 of 7 used Submit Answe Save for Later O (c) Show the presentation of the ending inventories on the December 31, 2020, balance sheet. AIKMAN COMPANY (Partial) Balance Sheet $ Accounts Receivable Cash Finished Goods Inventories Prepaid Expenses $ $ Raw Materials Attempts: 0 of 7 used Submi Work in Process h ORI