Shown here are annual financial data at December 31 2013
Shown here are annual financial data at December 31, 2013, taken from two different companies.


Required
1. Compute the cost of goods sold section of the income statement at December 31, 2013, for each company. Include the proper title and format in the solution.
2. Write a half-page memorandum to your instructor
(a) Identifying the inventory accounts
(b) Describing where each is reported on the income statement and balance sheet for bothcompanies.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help