Junko Company manufactures financial calculators and produced 97,000 units during the year. The finished goods inventory was 1,260 units on January 1 and 1,040 units on December 31. The average unit cost is $118, what was the cost of goods manufactured and the cost of goods sold for the year?

Junko Company manufactures financial calculators and produced 97,000 units during the year. The finished goods inventory was 1,260 units on January 1 and 1,040 units on December 31. The average unit cost is $118, what was the cost of goods manufactured and the cost of goods sold for the year?

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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Question

q2:
Junko Company manufactures financial calculators and
produced 97,000 units during the year. The finished goods
inventory was 1,260 units on January 1 and 1,040 units on
December 31. The average unit cost is $118, what was
the cost of goods manufactured and the cost of goods
sold for the year?
Please choose the correct option and show your
calculation to validate your selection:
A. $11,446,000 & $11,471,960
B. $10,839,680 & $11,446,000
C. $11,446,000 & $12,839,680
D. $10,888,240 & $11,446,000

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