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Prepare an income statement through gross profit

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Reference no: EM133053910

Question - Peters Manufacturing Company has the following data at June 30, 2019:

Unit = $

Raw materials inventory, June 1 13,800

Work in process inventory, June 1 18,100

Finished goods inventory, June 1 43,500

Total manufacturing costs 430,000

Sales 580,000

Work in process inventory, June 30 30,400

Finished goods inventory, June 30 55,200

Raw materials inventory, June 30 18,000

Required -

(a) Prepare an income statement through gross profit for the month of June.

(b) Indicate the balance sheet presentation of the June 30 inventories.

Reference no: EM133053910

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