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The following cost-flow information comes from the accounts of Brown Industries for the month ended January 31, 2020: Raw Materials Inventory 140,000 Finished Goods Inventory

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The following cost-flow information comes from the accounts of Brown Industries for the month ended January 31, 2020: Raw Materials Inventory 140,000 Finished Goods Inventory 175,000 Jan 1 Work in Process Inventory 38,000 ? 35,000 70,000 40,000 100,000 jan 1 OM DL OH Jan 30 ? Jan 30 130,000 Jan 30 123,000 Overhead Control 80,000 30,00| ? Sales revenue for the month totaled $400,000. Selling expenses incurred were $20,000 while administrative expenses totaled $15,000. The company's income tax rate is 40%. 9. The count of the raw materials inventory at the start of the period found 7,000 feet of wood. What was the average cost of wood, per foot? 10. The ending finished goods inventory as of December 31 2019 was how much? 11. How much raw materials were used in production? 12. What's the cost of goods manufactured? 13. Gross margin would be? 14. What is the cost of goods sold as reported under GAAP? 15. Income from operations for the period is how much? 16. Assuming there were no other items of gain or loss, net income

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