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What amount of comprehensive income should be reported

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Reference no: EM132813532

Question 1 - Campbel Company's records for the year ended December 31, 2022 included the following information:

Raw materials purchases 860,000

Work in progress inventory decrease 10,000

Finished goods inventory increase 70,000

Raw materials inventory decrease 30,000

Manufacturing overhead 600,000

Freight-out 90,000

Direct labor 400,000

Required - Determine the Campbel Company's cost of sales for the year 2022?

Question 2 - Blass Company provided the following information for the current years:

Unrealized loss on FVTOCI investments 500,000

Translation reserve - credit 600,000

Revaluation reserves 2,000,000

Accumulated profits adjustment - debit 100,000

Appropriated reserve 200,000

Gain on sale of treasury shares 150,000

Net income 6,000,000

Required - What amount of comprehensive income should be reported for the current year?

Reference no: EM132813532

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