Great Electronics manufactures and sells a line of radio. Unfortunately, Great E

Question

Great Electronics manufactures and sells a line of radio. Unfortunately, Great Electronics suffered serious fire damage at E Click the icon to view the amounts.) its home office. As a result, the accounting records for October were partially destroyed-and completely jumbled. Great Electronics has hired you to help figure out the missing pieces of the accounting puzzle. Assume that the Raw Materials Requirement Inventory contains only direct materials Find the following amounts: a. Cost of Goods Sold in October b. Beginning Raw Materials Inventory c. Ending Finished Goods Inventory Find the Cost of Goods Sol d in October. Determine the Cost of Goods Sold in October by completing the following table. Cost of goods sold

Explanation / Answer

Cost of good Sold = Revenue - Gross Profit

Revenue = 27600

Gross Profit = 12000

Cost of Goods Sold = 27600-12000

= $15,600

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