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Unformatted text preview: general and administrative costs. Income taxes are 33% of income before taxes. Following is information about various inventory components: Raw Materials Indirect Materials Work in Process Finished Goods Beginning balance $ 775,090 $ 55,080 $ 1,213,678 $ 1,242,664 Purchases 4,334,665 320,500 n/a n/a Ending balance 812,332 71,715 944,070 1,553,509 (a) Use the above information to construct a schedule of cost of goods manufactured for the year ending December 31, 20X9. (b) Use the above information to construct a schedule of cost of goods sold for the year ending December 31, 20X9. (c) Use the above information to construct an income statement for the year ending December 31, 20X9....
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.
- Spring '11