Chapter 5, Problem 1.6C

Use the following date to answer the requirement of this item:Quantity (Product X) - 1,200.00Quantity (Product Y) - 1,800.00Purchase cost per unit (Product X) - 70.00Purchase cost per unit (Product Y) - 90.00Cash discount taken for both products – 10%Freight cost from supplier (Product X) 10.00Freight cost from supplier (Product Y) 30.00Estimated selling price (Product X) 120.00Estimated selling price (Product Y) 150.00Estimated selling costs (Product X) 22.00Estimated selling costs (Product Y) 35.00General and administrative (Product X) 15.00General and administrative (Product Y) 21.00Cost of goods sold per record – 385,800Inventory at year-end shall be carried at

Using the Cost of Goods Manufactured calculated in your sch cgm worksheet and adding data needed from the balance sheet, calculate the Cost of goods sold. Balance Sheet:   2/1/2021   2/29/2021 Cash $             200,000   $          1,595,310 AR $          1,000,000   $          1,487,096 Supplies $                20,000   $                20,000 Inventory RM $                75,860   $             296,190 Inventory WIP $             140,000   $             120,000 Inventory finished goods $             179,680   $             106,980 Equipment-office $                15,000   $                15,000 Accumulated depreciation $                (3,250)   $                (3,500) Equipment-sales $                10,000   $                10,000 Accumulated depreciation $                (2,167)   $                (2,333) Equipment-factory $                75,000   $                75,000 Accumulated depreciation $             (16,250)   $             (21,250)…

BLOCK D/2018/1 In   t1, you purchase goods on target in the  amount of €  9 thousand (net).  Furthermore, transport costs of  € 500 (net) to be paid  to an external service provider for the purchase of the goods are  incurred (incidental acquisition costs);    payment is also made on destination.  Your col- lege posts the goods receipt as follows: purchase of goods € 9,000 and amounts of € 1,710 intrade payables € 10,710 as well as Other operating expenses for trade payables €500. The goods are to be  sold in t2.  It is foreseeable that you will be able to sell  the goods witha high profit margin. Do the postings of the colleague lead to an accrual determination of success?  If further bookings or corrections are required in t1, make them and justify your action with reference to the possible bookings.  relevant legal regulations!