E2-39B Work backward to find missing amounts (Learning Objective 5)

Lindy Electronics manufactures and sells smartphones. Unfortunately, the company recently suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyed and completely jumbled. Lindy has hired you to help figure out the missing pieces of the accounting puzzle. Assume that Lindy Electronics’

Raw Materials Inventory contains only direct materials.

Work process inventory, October 31................................................................ $ 1,600 Finished goods inventory, October 1................................................................ $ 4,900 Direct labor in October..................................................................................... $ 3,500 Purchases of direct materials in October.......................................................... $ 9,700 Work process inventory, October 1.................................................................. 0 Revenues in October......................................................................................... $27,200 Gross profit in October..................................................................................... $12,300 Direct materials used in October...................................................................... $ 8,200 Raw materials inventory, October 31................................................................ $ 3,600 Manufacturing overhead in October................................................................ $ 6,300 Requirement Find the following amounts:

a. Cost of Goods Sold in October

b. Beginning Raw Materials Inventory

c. Ending Finished Goods Inventory