Solution-How do prepare statement of cost of goods sold for

How do prepare statement of cost of goods sold for the year

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Reference no: EM132633587

For the year just ended, Royal Corporation reported total manufacturing costs of 3,600,000 and cost of goods sold of 3,750,000. For the past periods, the factory overhead had been about 1/2 of materials cost and 2/5 of the conversion costs. Raw materials on January 1 of 240,000 was 6/5 of the December 31 inventory, while work in process of 160,000 on January 1 increased by 1/4 at the year-end. The finished goods inventory decreased by 1/3.

Required:

Problem 1: Prepare statement of cost of goods sold for the year just ended, giving as much details as can be determined from the information given.

Reference no: EM132633587

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How do prepare statement of cost of goods sold for the year

Reference no: EM132633587

Reference no: EM132633587

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