Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter. Finished goods inventory, June 1 $116,600   $38,880   (e) Cost of goods manufactured 825,900   (c)   180,000 Cost of finished goods available for sale (a)   $540,000   $1,100,000 Finished goods inventory, June 30 130,000   70,000   (f) Cost of goods sold (b)   (d)   $945,000

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 14E: Income statement for a manufacturing company Two items are omitted from each of the following three...
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Income Statement for a Manufacturing Company

Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter.

Finished goods inventory, June 1 $116,600   $38,880   (e)
Cost of goods manufactured 825,900   (c)   180,000
Cost of finished goods available for sale (a)   $540,000   $1,100,000
Finished goods inventory, June 30 130,000   70,000   (f)
Cost of goods sold (b)   (d)   $945,000

 

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