The following data refer to Nani's Fashions for the current year: Sales Revenues $475,000 Work in process inventory, 31 December 15,000 Work in process inventory, 1 January 20,000 Selling and administrative expenses 75,000 Income tax expense 45,000 Purchase of raw materials 90,000 Raw materials inventory, 31 December 12,500 Raw material inventory. 1 January 20,000 Direct labour 100,000

Question
The following data refer to Nani's Fashions for the current year:
Sales Revenues
$475,000
Work in process inventory, 31 December
15,000
Work in process inventory, 1 January
20,000
Selling and administrative expenses
75,000
Income tax expense
45,000
Purchase of raw materials
90,000
Raw materials inventory, 31 December
12,500
Raw material inventory. 1 January
20,000
Direct labour
100,000
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Transcribed Image Text

The following data refer to Nani's Fashions for the current year: Sales Revenues $475,000 Work in process inventory, 31 December 15,000 Work in process inventory, 1 January 20,000 Selling and administrative expenses 75,000 Income tax expense 45,000 Purchase of raw materials 90,000 Raw materials inventory, 31 December 12,500 Raw material inventory. 1 January 20,000 Direct labour 100,000