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The following data (in thousands of dollars) have been taken from the accounting records of Larkin Corporation for the just completed year. Sales $860 Purchases
The following data (in thousands of dollars) have been taken from the accounting records of Larkin Corporation for the just completed year. Sales $860 Purchases of raw materials $170 Direct labor $220 Manufacturing overhead $210 Administrative expenses $120 Selling expenses $170 Raw materials inventory, beginning $ 10 Raw materials inventory, ending $ 50 Work in progress inventory, beginning $ 80 Work in progress inventory, ending Finished goods inventory, beginning $110 Finished goods inventory, ending $100 Required: 2. Using T accounts open and make the required ledger entries to each account - display the ending balance of each T account ledger. b. Prepare a job cost sheet. C. Prepare a schedule of Cost of Goods manufactured in good form. d. Compute the cost of Goods sold
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