Chapter 16, Problem 3R

The following data pertain to 2012 activities of Twisp Industries:

Use your completed worksheet to determine the firmʼs cost of goods sold for 2012.

Remember to change the year in row 24 and to enter new beginning inventory balances.

Save the 2012 file as MFG3. Print the worksheet when done.

If sales and other expenses were identical in 2011 and 2012, during which year did Twisp earn more income? Why?