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Prepare schedule of cost of goods sold for samuels ltd

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Reference no: EM132632597

Samuels ltd has incurred the following costs for the year Costs Incurred:

Inventories                   Beginning of the Year                      End of the Year

Raw Materials                   $4,000                                     $10,000

Work in process                 $12,000                                      $6,000

Finished goods                  $11,000                                       $20,000

On the basis of above information:

Problem (a) Prepare schedule of cost of goods sold

Problem (b) Prepare income statement for the year

Reference no: EM132632597

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