Splendid Displays designs and manufactures displays used in mobile devices Serious flooding throughout the region affected Splendid Displays facilities Inventory was completely ruined, and the company's computer system, including all accounting records, was destroyed (Click the icon to view additional information.) The beginning inventory numbers are as follows: (Click the icon to view beginning inventory numbers.) Requirement Determine the ending inventories of raw materials, work in process, and finished goods. Assume that Raw Materials Inventory contains only direct materials, Start by determining the ending inventory of raw materials by calculating the direct materials used. Splendid Displays Calculation of Direct Materials Used For Current Year Beginning raw materials inventory 112,000 Plus Purchases of direct materials 537.000 Direct materials available for use 649,000 Less Ending raw materials inventory 100.000 Direct materials used 549,000 Next, determine the ending inventory of work in process by calculating the cost of goods manufactured 231,000 Splendid Displays Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory $ Plus: Manufacturing costs incurred Direct materials used Direct labor Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured 549,000 514,000 229,000 1,523,000 312,000 1,211,000 Finally dotorming Splendid Displays Calculation of Cost of Goods Sold For Current Year Plus: Less: goods. Assume that Raw Materials Inventory con ccoun Data Table - s inver . nvento . Raw materials, $112,000 Work in process, $231,000 Finished goods, $204,000 He remembers several schedules he learned in college that may help him get started. plendid on of C . For Cur Print Done Splendid Displays designs and manufactures displays used in mobile devices Serious flooding throughout the region affected Splendid Displays facilities Inventory was completely ruined, and the company's computer system, including all accounting records, was destroyed (Click the icon to view additional information.) The beginning inventory numbers are as follows: (Click the icon to view beginning inventory numbers.) Requirement Determine the ending inventories of raw materials, work in process, and finished goods. Assume that Raw Materials Inventory contains only direct materials, Start by determining the ending inventory of raw materials by calculating the direct materials used. Splendid Displays Calculation of Direct Materials Used For Current Year Beginning raw materials inventory 112,000 Plus Purchases of direct materials 537.000 Direct materials available for use 649,000 Less Ending raw materials inventory 100.000 Direct materials used 549,000 Next, determine the ending inventory of work in process by calculating the cost of goods manufactured 231,000 Splendid Displays Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory $ Plus: Manufacturing costs incurred Direct materials used Direct labor Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured 549,000 514,000 229,000 1,523,000 312,000 1,211,000 Finally dotorming Splendid Displays Calculation of Cost of Goods Sold For Current Year Plus: Less: goods. Assume that Raw Materials Inventory con ccoun Data Table - s inver . nvento . Raw materials, $112,000 Work in process, $231,000 Finished goods, $204,000 He remembers several schedules he learned in college that may help him get started. plendid on of C . For Cur Print Done