2. The following information was extracted from the books of Bass Shoe Company manufacturer of loafers: Beginning of Year $700,000 End of Year Raw materials inventory Work in process inventory Finished goods inventory Raw materials purchased Direct labour Manufacturing overhead $600,000 900,000 1,000,000 400,000 300,000 2,900,000 13,800,000 4,600,000 Calculate Cost of Goods Manufactured & Cost of Goods Sold using the equation

2. The following information was extracted from the books of Bass Shoe Company manufacturer of loafers: Beginning of Year $700,000 End of Year Raw materials inventory Work in process inventory Finished goods inventory Raw materials purchased Direct labour Manufacturing overhead $600,000 900,000 1,000,000 400,000 300,000 2,900,000 13,800,000 4,600,000 Calculate Cost of Goods Manufactured & Cost of Goods Sold using the equation

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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