The following information is from a manufacturing company for the year 2019: Revenues 36,000 opening material stock

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Question:

The following information is from a manufacturing company for the year 2019:

Revenues 36,000

opening material stock 10,000

closing material stock 8,000

finished goods opening stock 6,000

finished goods closing stock 4,000

cost of goods produced 26,000

Required:

Calculate the cost of goods sold and gross profit for the year ended December 31, 2019.

Related Book For answer-question

Managerial Accounting

ISBN: 978-1259307416

16th edition

Authors: Ray Garrison, Eric Noreen, Peter Brewer

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Posted Date: Jul 12, 2023 03:36 AM

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The following information is from a manufacturing company for the year 2019: Revenues 36,000 opening material stock

Question:

Expert Answer:

To calculate the cost of goods sold COGS and gross profit we need to use t... View the full answer

Managerial Accounting

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