Q12: What is Music, Inc.’s 2021 Pre-Tax Income? Part 2: Music, Inc.Music, Inc. had the following beginning and ending values in its three inventory accounts:Jan 1, 2021$500$1,200$600Dec. 31, 2021$800Raw Materials InventoryWork-in-Progress InventoryFinished Goods Inventory$1,300$750Additional information for the year ending December 31, 2021:Manufacturing costs: $2,875Sales revenue: $15,900Selling & Admin expenses: $3,600Interest expense: $160Income tax rate: 20%

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Business

Accounting

What is Music, Inc.’s 2021 Pre-Tax Income?

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter20: Accounting For Inventory

Section: Chapter Questions

Problem 3AP

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