stion 17 Listed below is selected data for Zodiac Company for the current vear T

Question

stion 17 Listed below is selected data for Zodiac Company for the current vear Total manufacturing costs incurred during the year Work-in-process, beginning inventory Work-in-process, ending inventory Finished goods, beginning inventory Finished goods, ending inventory What is cost of goods sold for the current year? a. $142000 $122,000 28,000 18,000 28,000 18,000 b. $123,000. e c $10,000 Od.$132.000 estion 18 Temporary Training Inc provides a personalized training program The number of programs offered over the last

Explanation / Answer

Total manufacturing cost 122000 WIP [beginning inventory] 28000 WIP [closing inventory] 18000 Finished Goods [beginning inventory] 28000 Finished Goods [closing inventory] 18000 Calculation of Cost of Goods Sold WIP [beginning inventory] 28000 Finished Goods [beginning inventory] 28000 Total Beginning Inventory 56000 Add: Manufacturing Cost 122000 178000 Less: WIP [closing inventory] 18000 Finished Goods [closing inventory] 18000 142000 Answer: a

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