For each case below, find the missing amount. Beginning inventory of finished goods Cost of goods manufactured during period Ending inventory of finished goods Cost of goods sold $ Case I 415,000 98,000 404,000 $ Case II 18,000 93,000 11,000 $ Case III 10,000 26,000 $ 315,000

For each case below, find the missing amount. Beginning inventory of finished goods Cost of goods manufactured during period Ending inventory of finished goods Cost of goods sold $ Case I 415,000 98,000 404,000 $ Case II 18,000 93,000 11,000 $ Case III 10,000 26,000 $ 315,000

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13: Accounting For Merchandise Inventory

Section: Chapter Questions

Problem 3CE: Use the following information to compute cost of goods sold under the FIFO and LIFO inventory...

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Question

For each case below, find the missing amount.
Beginning inventory of finished goods
Cost of goods manufactured during period
Ending inventory of finished goods
Cost of goods sold
3
Case I
415,000
98,000
404,000
$
Case II
18,000
93,000
11,000
$
$
Case III
10,000
26,000
315,000

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Step 2: Beginning Finished Goods Inventory for Case I

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Step 3: Cost of Goods Sold for Case II

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Step 4: Cost of Goods Manufactured Duirng the Period for Case III

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