Problem 1: The following financial information is for Annapolis Corporation are for the fiscal years ending 2019 & 2018 (all balances are normal):
|
Item/account
|
2019
|
2018
|
|
Accounts receivable
|
$50,000
|
$42,000
|
|
Inventory
|
$42,000
|
$38,000
|
|
Net sales (all credit)
|
$380,000
|
$350,000
|
|
Cost of goods sold
|
$154,000
|
$152,000
|
|
Net income
|
$27,200
|
$24,800
|
Use this information to determine the accounts receivable average collection period for FY 2019.
Problem 2: Towson Manufacturing had a Work in Process balance of $138,000 on January 1, 2018. The yearend balance of Work in Process was $128,000 and the Cost of Goods Manufactured was $770,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2018.
Problem 3: During FY 2018, Towson Manufacturing had a beginning finished goods inventory of $17,000 & ending finished goods inventory of $21,500. Beginning work-in-process was $11,000 and ending work-in-process was 17,500. Factory overhead was $22,500. The total manufacturing costs amounted to $288,000. Use this information to determine the FY 2018 Cost of Goods Sold.
Our Cost of Goods Sold Assignment Help service have been offering our online services for many years and are well familiar with the fact, what exactly your university professors expect from your assignment paper.
Tags: Cost of Goods Sold Assignment Help, Cost of Goods Sold Homework Help, Cost of Goods Sold Coursework, Cost of Goods Sold Solved Assignments, Total Manufacturing Costs Assignment Help, Total Manufacturing Costs Homework Help, Accounts Receivable Average Collection Period Assignment Help, Accounts Receivable Average Collection Period Homework Help