The following balances appear on the accounts of Greusel Fabrication: March 1 (Beginning) March 31 (Ending) Direct
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Question:
The following balances appear on the accounts of Greusel Fabrication:
March 1 (Beginning) | March 31 (Ending) | |
---|---|---|
Direct materials inventory | $ 39,000 | $ 44,000 |
Work-in-process inventory | 65,000 | 69,200 |
Finished goods inventory | 45,500 | 41,200 |
Direct materials used during the year amount to $528,000 and the cost of goods sold for the year was $1,466,000.
Required:
Prepare a cost of goods sold statement.
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0078025525
4th edition
Authors: William Lanen, Shannon Anderson, Michael Maher
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