For May, determine a) the cost of goods manufactured and b) the cost of goods sold
For May, determine a) the cost of goods manufactured and b) the cost of goods sold
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Princeton 3 Company has the following information for May:
Cost of direct materials used in production $17,300
Direct labor 44,700
Factory
Work in process inventory, May 1 72,100
Work in process inventory, May 31 76,400
Finished goods inventory, May 1 30, 300
Finished goods inventory, May 31 34,600
For May, determine a) the cost of goods manufactured and b) the cost of goods sold
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