The following data are available for three companies at the end of their fiscal years: Required Determine
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Determine the amounts indicated by question marks.
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Company A $ 600,000 Finished goods, January 1 Cost of goods manufactured Sales Gross profit on sales... Finished goods inventory, December 31 4,000,000 CompanyB Freight in Purchases returns and allowances Marketing expense Finished goods, December 31 Cost of goods sold Cost of goods available for sale $ 20,000 80,000 200,000 190,000 1,300,000 Company C Gross profit Cost of goods manufactured Finished goods, January 1 Finished goods, December 31 Work in process, January 1 Work i $96,000 340,000 45,000 52,000 28,000 38,000 n process, December 31
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