The beginning inventory of finishing goods must have been? The Lyons Company's cost of goodsmanufactured was $130,000 when its saleswere $360,000 and its gross margin was$220,000. If the ending inventory offinished goods was $35,000, the beginninginventory of finished goods must havebeen

Explanation of Cost of Goods Manufactured (COGM): This represents the total manufacturing cost of…

Answered: The Lyons Company's cost of goods…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...

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The Lyons Company's cost of goods manufactured was $120,000 when its sales were $360,000 and its gross margin was $220,000. If the ending inventory of finished goods was $30,000, the beginning inventory of finished goods must have been: a. $20,000 b. $50,000 c. $110,000 d. $150,000
The Lyons Company's cost of goods manufactured was $130,000 when its sales were $360,000 and its gross margin was $220,000. If the ending inventory of finished goods was $35,000, the beginning inventory of finished goods must have been__.Need answer
The Lyons Company's cost of goods
If the cost of goods sold is $100,000 and the ending finished goods inventory is$30,000 higher than the beginning finished goods inventory, what must be the amountof the cost of goods manufactured?a. $30,000b. $100,000c. $130,000d. $70,000
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Bonita Industries reported the following year-end information: beginning work in process inventory, S72000; cost of goods manufactured, S670000; beginning finished goods inventory, $42000; ending work in process inventory, S62000; and ending finished goods inventory, $32000. How much is Bonita's cost of goods sold for the year? A. S660000 B. $680000 C. $690000 D. $670000
The opening and closing inventories of a manufacturing business are GH₵ 22,000 and GH₵ 36,000 respectively. If goods are transferred to warehouse at cost plus 33⅓%, what provision for unrealized profit must be taken to the profit and loss account?
The cost of goods sold for this company ?
True or False: A company that incurred $1,000 in production costs reported cost of goods sold of $800 and selling costs of $100. Its ending finished goods inventory was $300.
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Calculate the cost of goods sold when beginning finished goods inventory equals $70,000, ending finished goods inventory is $85,000, and cost of goods manufactured is $600,000. a. $615,000 b. $445,000 c. $685,000 d. $585,000
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The Lyons Company's cost of goods manufactured was $130,000 when its sales were $360,000 and its gross margin was $220,000. If the ending inventory of finished goods was $35,000, the beginning inventory of finished goods must have been