Harrison Industries began July with a finished goods inventory of $52,000. The finished goods inventory at the end of July was $68,000 and the cost of goods sold during the month was $129,000. The cost of goods smanufactured during July was:
Harrison Industries began July with a finished goods inventory of $52,000. The finished goods inventory at the end of July was $68,000 and the cost of goods sold during the month was $129,000. The cost of goods smanufactured during July was:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Harrison Industries began July with a finished goods inventory of $52,000. The finished goods inventory at the end of July was $68,000 and the cost of goods sold during the month was $129,000. The cost of goods smanufactured during July was:
Expert Solution
Step 1
COST OF GOODS MANUFACTURED
Cost of goods manufactured Include cost of Raw material Used During the period, cost of Direct Labour & Manufacturing OH.
Cost of Goods Manufactured is Computed :—
= Total Manufacturing Cost + Beggining Inventory of WIP - Ending Inventory of WIP
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