Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following information is for Pharoah Inc. for the year 2022: Manufacturing costs $3,014,400 Number of gloves manufactured 314,000 pairs Beginning inventory 0 pairs Sales
The following information is for Pharoah Inc. for the year 2022:
Manufacturing costs | $3,014,400 | ||
Number of gloves manufactured | 314,000 | pairs | |
Beginning inventory | 0 | pairs |
Sales in 2022 were 312,500 pairs of gloves for $20 per pair.
1) What is the cost of goods sold for 2022? (Round cost per unit to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 125.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started