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of Goods Sold. Stroup Manufacturing incurred manufactum ,000 in July. Inventories were as follows (in thousands): Finished Goods.............. Work in Process. ***** June 30 $150 80

of Goods Sold. Stroup Manufacturing incurred manufactum ,000 in July. Inventories were as follows (in thousands): Finished Goods.............. Work in Process. ***** June 30 $150 80

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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Exercises E4-1 Cost of Goods Sold. Stroup Manufacturing incurred manufacturing costs totaling $110,000 in July. Inventories were as follows (in thousands): Finished Goods. Work in Process. Work in process inventory, beginning.. Direct materials used.. June 30 $150 80 Required: Calculate cost of goods sold for July. E4-2 Cost of Goods Sold. Belton Company has gathered the following data concerning its May operations (in thousands): Finished goods inventory, ending Direct labor... Work in process inventory, ending. Factory overhead. Finished goods inventory, beginning. Required: Calculate cost of goods sold for May. July 31 $120 90 $250 90 300 60 210 80 340
Transcribed Image Text:Exercises E4-1 Cost of Goods Sold. Stroup Manufacturing incurred manufacturing costs totaling $110,000 in July. Inventories were as follows (in thousands): Finished Goods. Work in Process. Work in process inventory, beginning.. Direct materials used.. June 30 $150 80 Required: Calculate cost of goods sold for July. E4-2 Cost of Goods Sold. Belton Company has gathered the following data concerning its May operations (in thousands): Finished goods inventory, ending Direct labor... Work in process inventory, ending. Factory overhead. Finished goods inventory, beginning. Required: Calculate cost of goods sold for May. July 31 $120 90 $250 90 300 60 210 80 340
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