please answer letter b and explain thoroughly
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
please answer letter b and explain thoroughly
Transcribed Image Text:ABD Company has provided the following data for the month of November:
Inventories
1-Nov
30-Nov
Raw materials
850,000
?
Work in process
700,000
600,000
Finished goods
?
450,000
Additional data:
Sales revenue
5,100,000
Direct labor costs
500,000
Manufacturing overhead costs
Selling expenses
600,000
700,000
Administrative expenses
800,000
Cost of goods manufactured
Raw materials purchases
2,000,000
500,000
a.
How much is the ending raw materials inventory?
b.
If the net operating income was PhP2,000,000, how much was the beginning finished good
inventory?
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