Question

Following are the columns reflecting the statement of cost of goods manufactured and the income statement from the work sheet of Southeast Container Company, Inc., as of December 31, the end of the fiscal year. Beginning inventory of raw materials is $ 131,328; beginning inventory of work in process is $ 236,360.


Required
1. Prepare a statement of cost of goods manufactured.
2. Prepare an income statement.
3. Journalize the adjusting entries for the inventories.
4. Journalize the closingentries.


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  • CreatedOctober 21, 2014
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