A manufacturing company shows the following amounts in the income statement for 19B:
|
Materials Used
|
$590,000
|
|
Cost of Goods Sold
|
750,000
|
|
Cost of Goods Manufactured
|
800,000
|
|
Total Manufacturing Costs
|
790,000
|
1. Determine the amounts of (a) and (b)in the balance sheets of 12/31/19Aand 12/31/19B
Inventories
|
12/31/19A
|
1213 111 9B
|
|
Materials
|
$100,000
|
$150,000
|
|
Work-in-process
|
(a)
|
87,000
|
|
Finished goods
|
80,000
|
(b)
|
2. Compute the amount of materials purchased in 19B.