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Asked by adrianpaisley
Annapolis Clothing Company manufactures quality boating...
Annapolis Clothing Company manufactures quality boating attire. The following selected financial information for the fiscal year 2020 is provided:
Item
Amount
Sales
$200,000
Cost of Goods Manufactured
44,000
Direct Material Purchased
80,000
Factory Overhead
20,000
Work in Process - January 1
60,000
Work in Process - December 31
30,000
Direct Material - December 31
20,000
Finished Goods Inventory - December 31
51,000
Net Income
30,000
Direct Materials used
60,000
Cost of Goods Sold
63,000
Use this information to determine the dollar amount of Annapolis Clothing's Finished Goods Inventory for January 1, 2020. Round to a whole number (no cents).
Solved by verified expert
Answered by hadassah25
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