The following data were taken from the general ledgers and other sources of Charlie Manufacturing Inc. and Delta Merchandising Co. on April 30 of the current year: Merchandise Inventory, April 1 38,000 Finished goods, April 1 67,000 Purchases 121,000 Cost of goods manufactured 287,000 Merchandise Inventory, April 30 33,000 Finished goods, April 30 61000 Required: 1. Compute the cost of goods sold for Delta Merchandising Co., selecting the appropriate items from the previous list. 2. Compute the cost of goods sold for Charlie Manufacturing Co., selecting the appropriate items from the previous list.
The following data were taken from the general ledgers and other sources of Charlie Manufacturing Inc. and Delta Merchandising Co. on April 30 of the current year: Merchandise Inventory, April 1 38,000 Finished goods, April 1 67,000 Purchases 121,000 Cost of goods manufactured 287,000 Merchandise Inventory, April 30 33,000 Finished goods, April 30 61000 Required: 1. Compute the cost of goods sold for Delta Merchandising Co., selecting the appropriate items from the previous list. 2. Compute the cost of goods sold for Charlie Manufacturing Co., selecting the appropriate items from the previous list.
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 11RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...
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The following data were taken from the general ledgers and other sources of Charlie Manufacturing Inc. and Delta Merchandising Co. on April 30 of the current year:
|
Merchandise Inventory, April 1
|
38,000
|
|
Finished goods, April 1
|
67,000
|
|
Purchases
|
121,000
|
|
Cost of goods manufactured
|
287,000
|
|
Merchandise Inventory, April 30
|
33,000
|
|
Finished goods, April 30
|
61000
|
Required:
1. Compute the cost of goods sold for Delta Merchandising Co., selecting the appropriate items from the previous list.
2. Compute the cost of goods sold for Charlie Manufacturing Co., selecting the appropriate items from the previous list.
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