Selected account balances for Reed Manufacturing Company on December 31, 2019, the end of the fiscal year, are given below. Data about the beginning and ending inventories are also given.
Use this information to prepare a statement of cost of goods manufactured and an income statement for 2019.

Raw Materials Inventory 27,000 25,000

Question

Selected account balances for Reed Manufacturing Company on December 31, 2019, the end of the fiscal year, are given below. Data about the beginning and ending inventories are also given.
Use this information to prepare a statement of cost of goods manufactured and an income statement for 2019.
  
Raw Materials Inventory 27,000 25,000

Quizplus · Accepted Answer

The Answer of Selected account balances for Reed Manufacturing Company on December 31, 2019, the end of the fiscal year, are given below. Data about the beginning and ending inventories are also given.
Use this information to prepare a statement of cost of goods manufactured and an income statement for 2019.
  
Raw Materials Inventory 27,000 25,000

Selected Account Balances for Reed Manufacturing Company on December 31