Sierra Co. provided the following information for the year ended December 31, 20Y1 Costs Amount Finished goods inventory - beginning balance $150,000 Finished goods inventory - ending balance $120,000 Costs of Goods manufactured $380,000 Selling expenses $85,000 General and administrative expenses $245,000 Sales revenue $1,120,000 Costs of goods sold for the year ended December 31, 20Y1: $ Net income for the year ended December 31, 20Y1: $ Instruction: Do not use "$" in your answer. Use thousand separator. E.g., 1,500,000
Sierra Co. provided the following information for the year ended December 31, 20Y1 Costs Amount Finished goods inventory - beginning balance $150,000 Finished goods inventory - ending balance $120,000 Costs of Goods manufactured $380,000 Selling expenses $85,000 General and administrative expenses $245,000 Sales revenue $1,120,000 Costs of goods sold for the year ended December 31, 20Y1: $ Net income for the year ended December 31, 20Y1: $ Instruction: Do not use "$" in your answer. Use thousand separator. E.g., 1,500,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Sierra Co. provided the following information for the year ended December 31, 20Y1
| Costs | Amount |
|---|---|
| Finished goods inventory - beginning balance | $150,000 |
| Finished goods inventory - ending balance | $120,000 |
| Costs of Goods manufactured | $380,000 |
| Selling expenses | $85,000 |
| General and administrative expenses | $245,000 |
| Sales revenue | $1,120,000 |
Costs of goods sold for the year ended December 31, 20Y1: $
Net income for the year ended December 31, 20Y1: $
Instruction: Do not use "$" in your answer. Use thousand separator. E.g., 1,500,000
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