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Using the information below, calculate the net income for the period: Account Amount Beginning Raw Materials Inventory $43,500 Ending Raw Materials Inventory $38,700 Beginning Work in Process Inventory $76,200 Ending Work in Process Inventory $82,400 Beginning Finished Goods Inventory $95,300 Ending Finished Goods Inventory Cost of Goods Sold for the period Sales revenues for the period Operating expenses for the period a. $321,500 b. $212,500 $104,800 $675,000 $1,125,000 $237,500 c. $237,000 d. $258,700

Using the information below, calculate the net income for the period: Account Amount Beginning Raw Materials Inventory $43,500 Ending Raw Materials Inventory $38,700 Beginning Work in Process Inventory $76,200 Ending Work in Process Inventory $82,400 Beginning Finished Goods Inventory $95,300 Ending Finished Goods Inventory Cost of Goods Sold for the period Sales revenues for the period Operating expenses for the period a. $321,500 b. $212,500 $104,800 $675,000 $1,125,000 $237,500 c. $237,000 d. $258,700

Principles of Accounting Volume 2
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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Using the information below, calculate the net income for the period: Account Amount Beginning Raw Materials Inventory $43,500 Ending Raw Materials Inventory $38,700 Beginning Work in Process Inventory $76,200 Ending Work in Process Inventory $82,400 Beginning Finished Goods Inventory $95,300 Ending Finished Goods Inventory Cost of Goods Sold for the period Sales revenues for the period Operating expenses for the period a. $321,500 b. $212,500 $104,800 $675,000 $1,125,000 $237,500 c. $237,000 d. $258,700
Transcribed Image Text:Using the information below, calculate the net income for the period: Account Amount Beginning Raw Materials Inventory $43,500 Ending Raw Materials Inventory $38,700 Beginning Work in Process Inventory $76,200 Ending Work in Process Inventory $82,400 Beginning Finished Goods Inventory $95,300 Ending Finished Goods Inventory Cost of Goods Sold for the period Sales revenues for the period Operating expenses for the period a. $321,500 b. $212,500 $104,800 $675,000 $1,125,000 $237,500 c. $237,000 d. $258,700
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