The following balances are from the accounts of Tappan Parts January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 21,900 $ 25,300 Work in process inventory 32,300 28,900 Finished goods inventory 5,300 7,100 Direct materials used during the year amount to $46,300 and the cost of goods sold for the year was $53,100 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work in process inventory $32,300 Manufacturing costs Direct materials Beginning inventory $21,900 Purchases Materials available Less Ending inventory 25,300 Direct materials used $46,300 Other manufacturing costs 5,200 Total manufacturing costs 51,500 Total costs of work in process $83,800 Less Ending work in process 28,900 Cost of goods manufactured $54,900 Beginning finished goods inventory 5,300 Finished goods available for sale Less Ending finished goods inventory 7,100 Cost of goods sold $53,100 I can not figure out how to calculate purchases, material available which i know i need purchases for and finished goods available please explain your answers for me

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Posted on Aug 30, 2024

The following balances are from the accounts of Tappan Parts: January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 21,900 $ 25,300 Work-in-process inventory

The following balances are from the accounts of Tappan Parts:

	January 1 (Beginning)		December 31 (Ending)
Direct materials inventory	$	21,900	$	25,300
Work-in-process inventory		32,300		28,900
Finished goods inventory		5,300		7,100

Direct materials used during the year amount to $46,300 and the cost of goods sold for the year was $53,100.

TAPPAN PARTS
Cost of Goods Sold Statement
For the Year Ended December 31
Beginning work-in-process inventory			$32,300
Manufacturing costs:
Direct materials:
Beginning inventory	$21,900
Purchases
Materials available
Less: Ending inventory	25,300
Direct materials used		$46,300
Other manufacturing costs		5,200
Total manufacturing costs			51,500
Total costs of work-in-process			$83,800
Less: Ending work-in-process			28,900
Cost of goods manufactured			$54,900
Beginning finished goods inventory			5,300
Finished goods available for sale
Less: Ending finished goods inventory			7,100
Cost of goods sold			$53,100

I can not figure out how to calculate purchases, material available which i know i need purchases for and finished goods available. please explain your answers for me!