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Notes 29-11-2021 

 

 

 

Hi, I’m new to accounting and trying to solve a text book problem. Can anyone help me understand, how the author calculated purchase in Cost of goods sold? Question:  Direct labor cost 16,000 Cost of goods sold 56,000 Opening and Closing Balances Raw Material                        8,000    8,600 Work-in-progress                8000    12,000 Finished goods                   14,000   18,000 Selling expenses                                 3,400 General Admin                    2,600 Sales for the month            75,0

( Ending inventory - Beginning inventory) + Cost of goods sold = Inventory purchases 

Originally posted by : sv
	Notes 29-11-2021        Hi, I’m new to accounting and trying to solve a text book problem. Can anyone help me understand, how the author calculated purchase in Cost of goods sold? Question:  Direct labor cost 16,000 Cost of goods sold 56,000 Opening and Closing Balances Raw Material                        8,000    8,600 Work-in-progress                8000    12,000 Finished goods                   14,000   18,000 Selling expenses                                 3,400 General Admin                    2,600 Sales for the month            75,0

You have uploaded all personal files. none of them have the problem