The following information was extracted from the books of Bass Shoe Company, a manufacturer of loafers: Beginning of Year $700,000 End of Year Raw materials inventory Work in process inventory Finished goods inventory Raw materials purchased Direct labour $600,000 1,000,000 900,000 400,000 300,000 2,900,000 13,800,000 4,600,000 Manufacturing overhead Calculate Cost of Goods Manufactured & Cost of Goods Sold using the equation method.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information was extracted from the books of Bass Shoe Company, a
manufacturer of loafers:
Beginning of Year
$700,000
End of Year
$600,000
Raw materials inventory
Work in process inventory
Finished goods inventory
Raw materials purchased
Direct labour
900,000
1,000,000
400,000
300,000
2,900,000
13,800,000
4,600,000
Manufacturing overhead
Calculate Cost of Goods Manufactured & Cost of Goods Sold using the equation
method.
Transcribed Image Text:The following information was extracted from the books of Bass Shoe Company, a manufacturer of loafers: Beginning of Year $700,000 End of Year $600,000 Raw materials inventory Work in process inventory Finished goods inventory Raw materials purchased Direct labour 900,000 1,000,000 400,000 300,000 2,900,000 13,800,000 4,600,000 Manufacturing overhead Calculate Cost of Goods Manufactured & Cost of Goods Sold using the equation method.
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