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b. If the net operating income was PhP2,000,000, how much was the beginning finished good inventory?

b. If the net operating income was PhP2,000,000, how much was the beginning finished good inventory?

FINANCIAL ACCOUNTING
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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please answer letter b and give solution

ABD Company has provided the following data for the month of November: Inventories 1-Nov 30-Nov Raw materials 850,000 ? Work in process 700,000 600,000 Finished goods ? 450,000 Additional data: Sales revenue 5,100,000 Direct labor costs 500,000 Manufacturing overhead costs Selling expenses 600,000 700,000 Administrative expenses 800,000 Cost of goods manufactured Raw materials purchases 2,000,000 500,000 a. How much is the ending raw materials inventory? b. If the net operating income was PhP2,000,000, how much was the beginning finished good inventory?
Transcribed Image Text:ABD Company has provided the following data for the month of November: Inventories 1-Nov 30-Nov Raw materials 850,000 ? Work in process 700,000 600,000 Finished goods ? 450,000 Additional data: Sales revenue 5,100,000 Direct labor costs 500,000 Manufacturing overhead costs Selling expenses 600,000 700,000 Administrative expenses 800,000 Cost of goods manufactured Raw materials purchases 2,000,000 500,000 a. How much is the ending raw materials inventory? b. If the net operating income was PhP2,000,000, how much was the beginning finished good inventory?
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