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Unformatted text preview: 15,000 Total indirect costs 232,000 Assume that beginning inventory was $35,000 ($30,000 direct costs + $5,000 indirect costs) and the direct costs associated with ending inventory were $40,800. YAZ estimates the indirect costs in ending inventory by comparing the direct costs in ending inventory with the direct costs in the goods available for sale. Required: Compute YAZ’s inventoried costs and cost of goods sold for the year. Use the worksheet to follow the method prescribed under Reg. Sec. 1.263A-1(f)(3)(i). Cost of goods sold: Beginning inventory Direct costs 30,000 Indirect costs 5,000 35,000 Plus: Direct costs ? Plus: Sec. 263A costs ? Less: Ending inventory Direct costs 40,800 Indirect costs ? Cost of goods sold...
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This note was uploaded on 09/09/2011 for the course TAX 6845 taught by Professor Kelliher,c during the Fall '08 term at University of Central Florida.
- Fall '08