Homeco, a start-up manufacturing company, had a bookkeeper who left suddenly, leaving rather incomplete accounting records for the last month of his employment. You have been hired to sort out the puzzle. Assume Homeco's raw materials inventory contains only direct materials. You have the following information available:
Find the following amounts:
A. Cost of goods sold in May.
B. Beginning raw materials inventory.
C. Ending finished goods inventory.

Question

Homeco, a start-up manufacturing company, had a bookkeeper who left suddenly, leaving rather incomplete accounting records for the last month of his employment. You have been hired to sort out the puzzle. Assume Homeco's raw materials inventory contains only direct materials. You have the following information available:
  Find the following amounts:
A. Cost of goods sold in May.
B. Beginning raw materials inventory.
C. Ending finished goods inventory.

Quizplus · Accepted Answer

The Answer of Homeco, a start-up manufacturing company, had a bookkeeper who left suddenly, leaving rather incomplete accounting records for the last month of his employment. You have been hired to sort out the puzzle. Assume Homeco's raw materials inventory contains only direct materials. You have the following information available:
  Find the following amounts:
A. Cost of goods sold in May.
B. Beginning raw materials inventory.
C. Ending finished goods inventory.

Homeco, a Start-Up Manufacturing Company, Had a Bookkeeper Who Left