The following information is from the trial balance of Mills Manufacturing Company:

Required
1. Manufacturing organizations use asset accounts that are not needed by retail organizations.
a. List the titles of the asset accounts that are specifically related to manufacturing organizations.
b. List the titles of the asset, liability, and equity accounts that you would see on the balance sheets of both manufacturing and retail organizations.
2. Assuming that the following information reflects the results of operations for the year, calculate the (a) gross margin, (b) cost of goods sold, (c) cost of goods available for sale, and (d) cost of goods manufactured:
Operating income...............$138,130
Operating expenses............. 53,670
Sales...................500,000
Finished goods inventory, beginning....... 50,900
3. Does Mills Manufacturing use the periodic or perpetual inventorysystem?

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Debit Credit S 34,000 Accounts receivable Marials nventory, ending Work in process inventory, ending Finished goods inventory, ending Producrion supplies Small tools Land Factrory building Accumulazed depreciation, factory building Facrory equipment Accumulated depreciation 27,000 31,000 47,900 54,800 5,700 9,330 160,000 575,000 S199,000 310,000 137,000 actory equipment Patents Accounts payable Insurance premiums payable Income taxes payable Mortgage payable Common sock Retained carnings 33,500 26,900 6,700 41,500 343,000 200,000 334,130 1,288,230 $1,288,230