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Identifying the inventory accounts

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Reference no: EM13896435

Shown here are annual financial data at December 31, 2013, taken from two different companies.

Required:
1. Compute the cost of goods sold section of the income statement at December 31, 2013, for each company. Include the proper title and format in the solution. 

2. Write a half-page memorandum to your instructor 
(a) Identifying the inventory accounts 
(b) Describing where each is reported on the income statement and balance sheet for bothcompanies.

Reference no: EM13896435

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