First, solve for (3) direct materials inventory, 3/31/2017, then solve for (2) work-in progress inventory, 3/31/2017 and finally solve for (1) finished goods inventory, 3/31/2017.

Reed Carter recently took over as the controller of Cooke Brothers Manufacturing. Last month, the previous controller loft the company with little notice and loft records in disarray, Reed needs the ending Inventory balances to report first-quarter numbers. For the previous month (March 2017) Ron was able to piece toget information: Click the icon to view the information for March 2017) Read the requirements First, solve for (3) direct materials Inventory, 3/31/2017; then solve for (2) work-in-process inventory, 3/31/2017; and finally solve for (1) finished goods Inventory 3 Direct materials inventory 3/31/2017 14.000 Direct materials purchased 140,000 Direct materials available for use 154,000 Direct materials inventory, 3/1/2017 Direct materials used Conversion costs Total manufacturing costs added during the period Data Table - X Direct materials purchased $ 140,000 Work-in-process Inventory, 3/1/2017 $ 38,000 Direct materials inventory, 3/1/2017 $ 14,000 Finished goods inventory, 31/2017 $ 110,000 Conversion costs $ 320,000 Total manufacturing costs added during the period $ 430,000 Cost of goods manufactured 4 times direct materials used Gross margin as a percentage of revenues 10% Revenues $ 520.000 Print Done Choose from any list or enter any number in the input fields and then click Check Ans