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Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger
Edition 4ISBN: 978-0324380767Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger
Edition 4ISBN: 978-0324380767 Exercise 48
Cost of Goods Sold
Slapshot Company makes ice hockey sticks. During the month of June, 18,000 sticks were completed at a cost of goods manufactured of $540,000. Suppose that on June 1, Slapshot had 5,000 units in finished goods inventory costing $160,000 and on June 30, 7,000 units in finished goods inventory costing $215,000.
Required:
1. Prepare a cost of goods sold statement for the month of June.
2. Calculate the number of sticks that were sold during June.
Slapshot Company makes ice hockey sticks. During the month of June, 18,000 sticks were completed at a cost of goods manufactured of $540,000. Suppose that on June 1, Slapshot had 5,000 units in finished goods inventory costing $160,000 and on June 30, 7,000 units in finished goods inventory costing $215,000.
Required:
1. Prepare a cost of goods sold statement for the month of June.
2. Calculate the number of sticks that were sold during June.
Explanation
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Verified
Cost of goods sold is the cost of only t...
Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger
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