The following information is available for Aikman Company.

Instructions
(a) Compute cost of goods manufactured.
(b) Prepare an income statement through gross profit.
(c) Show the presentation of the ending inventories on the December 31, 2012, balance sheet.
(d) How would the income statement and balance sheet of a merchandising company be different from Aikman€™s financialstatements?

Transcribed Image Text:

January 2012 2012 December 31, 2012 $21,000 13,500 27,000 30,000 17,200 21,000 Raw materials inventory Work in process invento Finished goods inventory Materials purchased Direct labor Manufact Sales 150,000 220,000 180,000 910,000 uring overhead