1. Summary information from KL Ltd's job cost sheets show the following information:

Job January February March Completed Sold

X01 $4 500 $1 500 February Not sold

X02 $8 200 January February X03 $2 520 February March

X04 $3 200 $1 400 April Not sold

Required:

What are the balances for January, February and March for each of the following for KL Ltd:

• work in process inventory
• finished goods inventory and
• cost of goods sold (5 marks)

Present your answers (and work out) using the table below:

	Work in Process Inventory	Finished Goods Inventory	Cost of Goods Sold
January
February
March