Solution-What was the net income in thousands for the year

What was the net income in thousands for the year

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Reference no: EM132660006

The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the year just ended.

Sales $990

Raw materials inventory, beginning $ 40

Raw materials inventory, ending $ 70

Purchases of raw materials $120

Direct labour $200

Manufacturing overhead $230

Administrative expenses $150

Selling expenses $140

Work-in-process inventory, beginning $ 70

Work-in-process inventory, ending $ 50

Finished goods inventory, beginning $120

Finished goods inventory, ending $160

Problem 1: What was the net income (in thousands of $) for the year?

Reference no: EM132660006

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What was the net income in thousands for the year

Reference no: EM132660006

Reference no: EM132660006

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