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Stuart Corporation began fiscal year 2018 with the following balances in its inventory accounts Raw Materials Work in Process Finished Goods $55,1 82,580 26,280 During
Stuart Corporation began fiscal year 2018 with the following balances in its inventory accounts Raw Materials Work in Process Finished Goods $55,1 82,580 26,280 During the accounting period, Stuart purchased $239.600 of raw materials and issued $249 300 of ae ued $249,300 of materials to the production old toWork in department. Direct labor costs for the period amounted to $322,600, and manufacturing overhe Process Inventory. Assume that and transferred to Finished Goods Inventory. Goods costing $601,400 were sold for administrative expenses amounted to $71,600. ed to Work in there was no over- or underapplied overhead. Goods costing $611,200 to produce were completed $800,800 during the period. Selling and Required a. Determine the ending balance of each of the three inventory accounts that would b. Prepare a schedule of cost of goods manufactured and so appear on the year-end balance sheet. old and an income statement Complete this question by entering your answers in the tabs below Req A Reg B CGMReq B Inc Sched Stmt
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