E2-27A Work backward to find missing amounts (Learning Objective 5)

Rapid Electronics manufactures and sells a line of smartphones. Unfortunately, Rapid Electronics suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyed—and completely jumbled. Rapid Electronics has hired you to help figure out the missing pieces of the accounting puzzle. Assume that the Raw Materials Inventory contains only direct materials.

Revenues in October........................................................................................ $27,700 Work in process inventory, October 31............................................................ $ 1,100 Raw materials inventory, October 31............................................................... $ 3,600 Direct labor in October.................................................................................... $ 3,400 Manufacturing overhead in October............................................................... $ 6,100 Work in process inventory, October 1.............................................................. 0 Finished goods inventory, October 1............................................................... $ 4,500 Direct materials used in October..................................................................... $ 8,600 Gross profit in October.................................................................................... $12,100 Purchases of direct materials in October......................................................... $ 9,500 Requirement Find the following amounts:

a. Cost of Goods Sold in October

b. Beginning Raw Materials Inventory

c. Ending Finished Goods Inventory