Calculate the inventory value at month-end of • Raw materials • Work in process • Finished goods b. Calculate both, the cost of goods sold and the gross profit for the month
Golden Heaven Ltd. manufactures custom kitchen cabinets and uses a job costing system. On January 1, 2015, there were no balances in work-in-process or finished goods inventories. The following events occurred in January 2015: 1. The company began two jobs: Job CC456 (comprising 40 tables) and Job DD789 (comprising 60 chairs). 2. 400 square metres […]