Upcott Manufacturing Company started 2014 with the following balances in its inventory accounts: Raw Materials, $2,500; Work
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Required
a. Using T-accounts, determine the ending balance Upcott would report for each of the three inventory accounts that would appear on the December 31, 2014, balance sheet.
b. Prepare the 2014 schedule of cost of goods manufactured and sold and the 2014 income statement.
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Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
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