Unformatted text preview: For the Month Ended May 31, 2005 Sales $200,000 Cost of goods sold 1-May Finished goods $12,600 Cost of goods manufactured $139,200 Cost of goods available for sale $151,800 31-May Finished goods $11,500 Cost of goods sold $140,300 Gross profit $59,700 (c) Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2005. May 31- manufacturing inventories will be reported in current assets as: Finished goods $11,500 Work in Process $17,900 Raw Materials $7,100...
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This note was uploaded on 09/20/2008 for the course ACC 349 taught by Professor Christie during the Spring '08 term at University of Phoenix.
- Spring '08