TABLE 11.10 For Problems 11.9, 11.10, and 11.11 LAST YEAR THIS YEAR Sales $ 215,000 $ 228,000 Cost of goods sold 121,000 131,000 Gross margin 94,000 97,000 Other expenses 49,000 49,000 Net income 45,000 48,000 Finished goods inventory 2,000 5,000 Work-in-process inventory 10,000 12,000 Raw material inventory 5,000 6,000 23,000 Total inventory (average for year) 17,000 Other current assets 91,000 110,000 Other assets 213,000 242,000 Total assets 321,000 375,000

TABLE 11.10 For Problems 11.9, 11.10, and 11.11 LAST YEAR THIS YEAR Sales $ 215,000 $ 228,000 Cost of goods sold 121,000 131,000 Gross margin 94,000 97,000 Other expenses 49,000 49,000 Net income 45,000 48,000 Finished goods inventory 2,000 5,000 Work-in-process inventory 10,000 12,000 Raw material inventory 5,000 6,000 23,000 Total inventory (average for year) 17,000 Other current assets 91,000 110,000 Other assets 213,000 242,000 Total assets 321,000 375,000

Name: Based on the data in Table 11.10 determine:a) How many weeks of fin is
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Description: Based on the data in Table 11.10 determine:a) How many weeks of fin ished goods were on hand at the end of last year.b) How many weeks of finished goods were on hand at the end of this year. TABLE 11.10For Problems 11.9, 11.10, and 11.11LAST YEARTHI

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter27: Lean Principles, Lean Accounting, And Activity Analysis

Section: Chapter Questions

Problem 27.20EX

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