Question: please hep D Sved Help Save & E ? GigaBite Company's computer system recently crashed, erasing much of the company's financial data. The following accounting

please hep
please hep D Sved Help Save & E ? GigaBite Company's computer
system recently crashed, erasing much of the company's financial data. The following

D Sved Help Save & E ? GigaBite Company's computer system recently crashed, erasing much of the company's financial data. The following accounting information was discovered soon afterwards on the Chief Financial Officer's back-up computer data Cost of Goods Sold $ 390,000 Work-in-Process Inventory, Beginning 32,500 Work-in-Process Inventory, Ending 43,000 Selling and Administrative Expense 54,500 Finished Goods Inventory, Ending 16,500 Finished Goods Inventory, Beginning Direct Materials Purchased 182,000 Factory overhead Applied 127,000 Operating Income 27,500 Direct Materials Inventory, Beginning 21,000 Direct Materials Inventory, Ending 6,500 Cost of Goods Manufactured 350,000 Direct labor 62,500 The Chief Financial Officer of GigaBite Company has asked you to recalculate the following accounts and report to him by week's end. What should be the amount in the finished goods inventory at the beginning of the year? Multiple Choice Multiple Choice $16.500 $45,000 $56.500 $63000 566,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!