Question: Your first internship assignment is to prepare two schedules for Shlue CO, a manufacturing company. You have a file that contains a copy of last
Your first internship assignment is to prepare two schedules for Shlue CO, a manufacturing company. You have a file that contains a copy of last year's work for both schedules; you plan to follow the same format as last year, hoping the staff accountant had it right. You also have access to the full set of finaricials for Stllyes, and you can dig further into any of the accounts via the accounting system, too. Here's the information you have pulled, with the same items as last year. Heckired Prepase a complete scheduler of COGM and coGs for sidue for the current year, in nood form. Will shese schedules be published as part of the company's financial statements? Explain their purpose. You did not gather information about depreciation expense on the headquarters facilaty executive calarim, advertising costs, or administrative expenses. If Shlue actually incurred all of these costs, should they also have been iocluded in the schedules cieated in part (a) above? Why or why not? Follow the flow of coss through inventory accounts to determine COGS
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