Question: This is so confusing. How do I backsolved for the missing items? Please show step by step solutions and explanations. 2-2. Rasic Coacepts The following
2-2. Rasic Coacepts The following data refers to one month for Talmidge Company. Fill in the blanks. (LO 2-1,2) 1 Direct materiais inventory, March 1 32,000 2 Direct materials inventory, March 31 27,000 10,000 3 Work-in-process inventory, March 1 4 Work-in-process inventory, March 31 5 Finished goods inventory, March 1 6 Finished goods inventory, March1 7 Purchases of direct materials 8 Cost of goods manufactured during the month 9 Total manufacturing costs 10 Cost of goods sold 11 Gross margin a. 64,000 14,000 b. 260,000 254,000 C. 170,000 120,000 62,000 12 Direct labor 13 Direct materials used 14 Manufacturing overhead 15 Sales revenue 16 d. 480,000
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