Solution-Determine the dollar amount of goods inventory for

Determine the dollar amount of goods inventory for january

Assignment Help Accounting Basics

Reference no: EM133156766

Question - Annapolis Clothing Company manufactures quality boating attire. The following selected financial information for the fiscal year 2020 is provided:

Item	Amount
Sales	$200,000
Cost of Goods Manufactured	55,000
Direct Material Purchased	80,000
Factory Overhead	20,000
Work in Process - January 1	60,000
Work in Process - December 31	30,000
Direct Material - December 31	20,000
Finished Goods Inventory - December 31	58,000
Net Income	30,000
Direct Materials used	60,000
Cost of Goods Sold	53,000

Required - Use this information to determine the dollar amount of Annapolis Clothing's Finished Goods Inventory for January 1, 2020. Round to a whole number (no cents).

Reference no: EM133156766

Questions Cloud

How much is each annual payment : Annual payments are required over seven years at a fixed interest rate of 10% p.a. How much is each annual payment

Give a structured interview script for the manager : This is a Human resource management essay. Your position is a bank teller in OCB bank (Orient Commercial Joint Stock Bank). Please answer the questions in Recru

Human resource development professionals : Watch the movie "Outsourced" and give a reflection about it and also include the following below.

Prepare the journal entries to account for the receipt : The share issue was made as a result of an offer being made to the public. Prepare the journal entries to account for the receipt of the application monies

Determine the dollar amount of goods inventory for january : Use this information to determine the dollar amount of Annapolis Clothing's Finished Goods Inventory for January 1, 2020. Round to a whole number (no cents)

Community sector service program : Develop and document at least one community sector service program that is supported by relevant systems, identifying priorities, timelines and responsibilities

Prepare the journal entries to account for the receipt : Prepare the journal entries to account for the receipt of the application monies and the subsequent allotment of the shares

Role of technology and business intelligence : Communicate and foster realistic expectations of the role of technology and business intelligence systems in management and decision support

Identify three most significant time wasters : Explain in detail: how can you cut down or eliminate these time wasters. Please use reliable web sources to answer and reference these questions

User Account

All Pages

Determine the dollar amount of goods inventory for january

Reference no: EM133156766

Reference no: EM133156766

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT