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The following information is available for Aikman Company. January 1, 2020 2020 December 31, 2020 Raw materials inventory $23,680 $31,650 Work in process inventory 16,120
The following information is available for Aikman Company. January 1, 2020 2020 December 31, 2020 Raw materials inventory $23,680 $31,650 Work in process inventory 16,120 18,470 Finished goods inventory 29,410 21,410 Materials purchased $153,280 Direct labor 221,550 Manufacturing overhead 184,550 Sales revenue 903,450 Prepare an income statement through gross profit. AIKMAN COMPANY Income Statement (Partial) For the Year Ended December 31, 2020 Sales Revenue $ 903450 Cost of Goods Sold Finished Goods Inventory, 1/1 $ $ 29410 i Cost of Goods Manufactured Cost of Goods Available for Sale Less : Finished Goods Inventory, 12/31 21410 i Cost of Goods Sold Gross Profit $
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