Chapter 18, Problem 11E

To determine

Concept Introduction:

Cost of goods sold:

The cost of goods sold can be defined as the total cost attributable to the production of the goods sold in a period. The cost of goods sold is calculated by adding beginning finished goods inventory to cost of goods manufactured and subtracting the ending inventory of finished goods for the period.

To compute:

Cost of goods sold for Unimart for the year ended December, 2015

Cost of goods sold for Precision Manufacturing for the year ended December, 2015