1. Merchandise Available for Sale- FG, end =2. Sales(Sales Returns and Sales Discount) =%3D3. Cost of Goods Manufactured + WIP, end =4. Cost of Goods Sold + FG, end =5. Merchandise Available for SaleCost of Goods Manufactured =6. Goods in ProcessManufacturing Cost =%3D7. Merchandise Available for SalesFG, beginning =%3D8. Goods in ProcessWIP, beginning =%3D9. Gross Profit +Cost of Goods Sold%3D10. Net IncomeExpenses =%3DСHOICES:A Manufacturing CostB Raw Materials UsedC Gross ProfitD Net Income (Loss)E Prime costF Goods Placed in ProcessG Cost of Goods ManufacturedH Conversion CostIRaw Materials Available for UseJ Merchandise Available for SaleK Cost of Goods SoldL Net SalesM Raw Materials Inv., beginningN Raw Materials Inv., endO Work - in - Process Inv., beginningWork - in - Process Inv.,endQ Finished Goods Inv., beginningR Finished Goods Inv., end 1. Direct Labor + Factory Overhead =2. Raw Materials Inventory, beg.Purchases - Freight in =3. Direct Materials + Direct Labor +Factory Overhead =4. Raw Materials Available for UseRaw Materials Inv., end =5. SalesCost of Goods Sold =6. Gross ProfitExpenses =7. Direct Materials + Direct Labor =8. WIP, beg. + Manufacturing Costs =9. FG, beg. + Cost of Goods Manufactured =10. Goods Placed in ProcessWIP, end =CHOICES:A Manufacturing CostB Raw Materials UsedC Gross ProfitD Net Income (Loss)E Prime costF Goods Placed in ProcessG Cost of Goods ManufacturedH Conversion CostIRaw Materials Available for UseJMerchandise Available for SaleKCost of Goods SoldL Net SalesM Raw Materials Inv., beginningN Raw Materials Inv., endO Work - in - Process Inv., beginningWork - in - Process Inv., endQ Finished Goods Inv., beginningR Finished Goods Inv., endP

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1. Merchandise Available for Sale FG, end = 2. Sales - (Sales Returns and Sales Discount) = 3. Cost of Goods Manufactured + WIP, end = 4. Cost of Goods Sold + FG, end = 5. Merchandise Available for Sale - Cost of Goods Manufactured = 6. Goods in Process - Manufacturing Cost = 7. Merchandise Available for Sales - FG, beginning = 8. Goods in Process - WIP, beginning = 9. Gross Profit + Cost of Goods Sold = 10. Net Income + Expenses = CHOICES: A Manufacturing Cost B Raw Materials Used C Gross Profit D Net Income (Loss) E Prime cost F Goods Placed in Process G Cost of Goods Manufactured H Conversion Cost I Raw Materials Available for Use J Merchandise Available for Sale K Cost of Goods Sold L Net Sales M Raw Materials Inv., beginning N Raw Materials Inv., end O Work - in - Process Inv., beginning P Work - in - Process Inv., end Q Finished Goods Inv., beginning

1. Merchandise Available for Sale FG, end = 2. Sales - (Sales Returns and Sales Discount) = 3. Cost of Goods Manufactured + WIP, end = 4. Cost of Goods Sold + FG, end = 5. Merchandise Available for Sale - Cost of Goods Manufactured = 6. Goods in Process - Manufacturing Cost = 7. Merchandise Available for Sales - FG, beginning = 8. Goods in Process - WIP, beginning = 9. Gross Profit + Cost of Goods Sold = 10. Net Income + Expenses = CHOICES: A Manufacturing Cost B Raw Materials Used C Gross Profit D Net Income (Loss) E Prime cost F Goods Placed in Process G Cost of Goods Manufactured H Conversion Cost I Raw Materials Available for Use J Merchandise Available for Sale K Cost of Goods Sold L Net Sales M Raw Materials Inv., beginning N Raw Materials Inv., end O Work - in - Process Inv., beginning P Work - in - Process Inv., end Q Finished Goods Inv., beginning

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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