Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the following information calculate the amount of ending finished goods inventory: Manufacturing costs $1,000,000 Shoes manufactured 100,000 Beginning inventory 0 pairs Pairs of shoes

Using the following information calculate the amount of ending finished goods inventory:

Manufacturing costs

$1,000,000

Shoes manufactured

100,000

Beginning inventory

0 pairs

Pairs of shoes sold during the year

99,500

Selling price per pair of shoes

$18

Select one:

a. $8,000

b. $5,000

c. $99,500

d. $0

e. $500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Creative And Innovative Auditing

Authors: Jeffrey Ridley

1st Edition

1472474627, 9781472474629

More Books

Students also viewed these Accounting questions