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Cornerstones of Cost Accounting 1st Edition by Don Hansen,Maryanne Mowen
Edition 1ISBN: 978-0538736787Cornerstones of Cost Accounting 1st Edition by Don Hansen,Maryanne Mowen
Edition 1ISBN: 978-0538736787 Exercise 21
COST OF GOODS SOLD
Refer to Cornerstone Exercises 2-1 and 2-2.
Sodowsky expects to produce 150,000 units and sell 140,000 units. Beginning inventory of finished goods is $25,000 and ending inventory of finished goods is expected to be $74,000.
Required:
1. Prepare a statement of cost of goods sold in good form.
2. What if the beginning inventory of finished goods decreased by $5,000? What would be the effect on the cost of goods sold?
Refer to Cornerstone Exercises 2-1 and 2-2.
Sodowsky expects to produce 150,000 units and sell 140,000 units. Beginning inventory of finished goods is $25,000 and ending inventory of finished goods is expected to be $74,000.
Required:
1. Prepare a statement of cost of goods sold in good form.
2. What if the beginning inventory of finished goods decreased by $5,000? What would be the effect on the cost of goods sold?
Explanation
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1.
Prepare a statement of cost of goods...
Cornerstones of Cost Accounting 1st Edition by Don Hansen,Maryanne Mowen
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