The following information is available for Crouching Alligator Manufacturing Company for the month ending October 31, 2016:
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The following information is available for Crouching Alligator Manufacturing Company for the month ending October 31, 2016:
Cost of goods manufactured .......................$450,000
Selling expenses .................................... 144,500
Administrative expenses .......................... 75,900
Sales ................................................ 911,250
Finished goods inventory, July 1 ................ 101,250
Finished goods inventory, July 31 .............. 93,800
For the month ended October 31, 2016, determine Crouching Alligator's (a) cost of goods sold, (b) gross profit, and (c) net income.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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