# Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $437,000. Suppose that on June 1, Slapshot had 350 units in finished goods inventory costing$80,000 and on June 30, 370 units in finished goods inventory costing $84,000. Required: 1. Prepare a cost of goods sold statement for the month of June. 2. Calculate the number of sticks that were sold during June. BuyFind ### Managerial Accounting: The Corners... 7th Edition Maryanne M. Mowen + 2 others Publisher: Cengage Learning ISBN: 9781337115773 BuyFind ### Managerial Accounting: The Corners... 7th Edition Maryanne M. Mowen + 2 others Publisher: Cengage Learning ISBN: 9781337115773 #### Solutions Chapter Section Chapter 2, Problem 23BEA Textbook Problem 957 views ## Cost of Goods SoldSlapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of$437,000. Suppose that on June 1, Slapshot had 350 units in finished goods inventory costing $80,000 and on June 30, 370 units in finished goods inventory costing$84,000.Required: 1. Prepare a cost of goods sold statement for the month of June. 2. Calculate the number of sticks that were sold during June.

Expert Solution

1.

To determine

Prepare the statement of cost of goods sold for the month of June.

### Explanation of Solution

Statement of Cost of Goods Sold:

Cost of goods sold can be defined as the cost incurred in manufacturing the goods that are sold during a time period. It includes all direct costs such as direct material and labour cost and excludes all types of indirect expenses, such as selling and distribution expenses.

The statement of cost of goods sold is prepared by the company for the purpose of external financial reporting.

The statement of cost of goods sold is given below:

 Company S
Expert Solution

2.

To determine

Calculate the number of sticks sold in June.

### Want to see the full answer?

Check out a sample textbook solution.See solution

### Want to see this answer and more?

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

See solution