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Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. Goods available for sale Cost of goods sold Garcon Pepper Company Company $ 0 $ < Required 1 0

Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. Goods available for sale Cost of goods sold Garcon Pepper Company Company $ 0 $ < Required 1 0

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 1E: Inventory Accounts for a Manufacturing Company Fujita Company produces a single product. Costs...
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Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. Goods available for sale Cost of goods sold Garcon Pepper Company Company $ 0 $ < Required 1 0 P
Transcribed Image Text:Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. Goods available for sale Cost of goods sold Garcon Pepper Company Company $ 0 $ < Required 1 0 P
The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 12,800 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending. Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net 17,400 10,500 34,250 25,000 19, 700 23,500 7,100 10, 200 33,000 9,900 6, 140 37,500 51, 200 282,000 28,000 16,400 Pepper Company $ 18, 400 23,700 11, 400 26, 200 40, 600 16, 500 17, 200 8,000 14,750 44,000 13, 480 2,050 68,000 59, 200 371, 490 17,700 23,950
Transcribed Image Text:The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 12,800 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending. Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net 17,400 10,500 34,250 25,000 19, 700 23,500 7,100 10, 200 33,000 9,900 6, 140 37,500 51, 200 282,000 28,000 16,400 Pepper Company $ 18, 400 23,700 11, 400 26, 200 40, 600 16, 500 17, 200 8,000 14,750 44,000 13, 480 2,050 68,000 59, 200 371, 490 17,700 23,950
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