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Work backwards to calculate cost of goods manufactured in 2016 for iRobot Company using the data given with one change: Use $41915 for ending finished
Work backwards to calculate cost of goods manufactured in 2016 for iRobot Company using the data given with one change: Use $41915 for ending finished goods inventory instead of $45,861. You can find cost of goods sold and beginning finished goods inventory in their annual report
Income Statement for iRobot Sales Cost of Goods Sold Gross Margin 12/31/1612/31/15 660,604$616,778 327,852 319,315$288,926 341,289 Operating Expenses: Research and Development Selling & Marketing General and Admin 76,071 97,772 54,465 $261,758 $228,308 79,805 115,125 66,828 Total Operating Expenses Operating Income Other income 57,557 60,618 3,804 2,353 $61,361$62,971 Income Before Taxes 18,841 $41,939$44,130 2,436 Income Tax Expense 19,422 Net Income Units Shipped (sold) 2,943Step by Step Solution
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