The following balances (in thousands of dollars) are from the accounts of Birwood Furniture: January 1 December 31 (Beginning) (Ending) ($000) ($000) $ 892 $ 964 1,334 319 Direct materials inventory Work-in-process inventory Finished goods inventory Direct materials used during the year amount to $2,896,000 and the cost of goods sold for the year was $3,078 Required: Prepare a cost of goods sold statement. Note: Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234). BIRWOOD FURNITURE 1,510 444 Cost of Goods Sold Statement

The following balances (in thousands of dollars) are from the accounts of Birwood Furniture: January 1 December 31 (Beginning) (Ending) ($000) ($000) $ 892 $ 964 1,334 319 Direct materials inventory Work-in-process inventory Finished goods inventory Direct materials used during the year amount to $2,896,000 and the cost of goods sold for the year was $3,078 Required: Prepare a cost of goods sold statement. Note: Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234). BIRWOOD FURNITURE 1,510 444 Cost of Goods Sold Statement

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Description: The following balances (in thousands of dollars) are from the accounts of Birwood Furniture:January 1 December 31(Beginning) (Ending)($000)$ 892($000)$ 9641,510444Direct materials inventoryWork-in-process inventoryFinished goods inventoryDirect mate

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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