Question
The slider Company had no beginning inventories. The following transactions occurred in 1999s (000s): Purchase direct materials $350 Direct Materials used 300 Acquired direct labot
The slider Company had no beginning inventories. The following transactions occurred in 1999s (000s):
Purchase direct materials $350 Direct Materials used 300 Acquired direct labot 160 acuired factory overhead 200 completed all goods that were started ? cost of goods sold (1/2 of goods completed were sold) ?
Required: 1) what are the ending balances of diret materials, work -in process and finished good inventories? 2)Suppose goods were still in proess that cost $100,000. Half the goods completed were sold. What are the balances of all the acccounts in the ending balance sheet?
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