Lakeshore Manufacturing provided the following information for the month ended March 31:Sales Revenue$31,000Beginning Finished Goods Inventory7,000Ending Finished Goods Inventory8,500Cost of Goods Manufactured11,600Compute gross profit.OA. $19,400OB. $17,900OC. $10,900O D. $20,900***

Answer -> the gross profit is $20,900.Explanation:Solution :: The Correct Option is D ->…

Answered: Lakeshore Manufacturing provided the…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter2: Job Order Costing

Section: Chapter Questions

Problem 6BE: Cost of goods sold Pine Creek Company completed 200,000 units during the year at a cost of...

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Cost of goods sold Pine Creek Company completed 200,000 units during the year at a cost of 3,000,000. The beginning finished goods inventory was 25,000 units at 310,000. Determine the cost of goods sold for 210,000 units, assuming a FIFO cost flow.
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Lakeshore Manufacturing provided the following information for the month ended March 31: Sales Revenue $31,000 Beginning Finished Goods Inventory 7,000 Ending Finished Goods Inventory 8,500 Cost of Goods Manufactured 11,600 Compute gross profit. OA. $19,400 OB. $17,900 OC. $10,900 O D. $20,900 ***