A company compiled the following information for the current year. (Assume that all raw materials used were direct mate Raw materials inventory, January 1 Raw materials inventory, December 31 Work in process, January 1 Work in process, December 31 Finished goods, January 1 Finished goods, December 31 Raw materials purchases Direct labor $20000 40000 18000 12000 40000 32000 1800000 760000

A company compiled the following information for the current year. (Assume that all raw materials used were direct mate Raw materials inventory, January 1 Raw materials inventory, December 31 Work in process, January 1 Work in process, December 31 Finished goods, January 1 Finished goods, December 31 Raw materials purchases Direct labor $20000 40000 18000 12000 40000 32000 1800000 760000

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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