Davis Manufacturing Company had the following data for a recent year: Accounts receivable Materials inventory Work in process inventory Finished goods inventory January 1 December 31 $27,000 22,500 70,200 3,000 Collections on account were $625,000. Cost of goods sold was 68% of sales. $33,000 6,000 48,000 15,000
Davis Manufacturing Company had the following data for a recent year: Accounts receivable Materials inventory Work in process inventory Finished goods inventory January 1 December 31 $27,000 22,500 70,200 3,000 Collections on account were $625,000. Cost of goods sold was 68% of sales. $33,000 6,000 48,000 15,000
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter1: Introduction To Cost Accounting
Section: Chapter Questions
Problem 8P: OReilly Manufacturing Co.s cost of goods sold for the month ended July 31 was 345,000. The ending...
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