Finished goods inventory decreased by 75000 if gross profit


Question - White Manufacturing transferred $4,500,000 of raw materials into production during the most recent year. Direct labor and factory overhead for the period totaled $3,000,000. Beginning work in process was$1,000,000 and ending work in process was $1,300,000. Finished goods inventory decreased by $75,000. If gross profit was $2,400,000, how much were sales for the period?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Finished goods inventory decreased by 75000 if gross profit
Reference No:- TGS02892735

Now Priced at $20 (50% Discount)

Recommended (93%)

Rated (4.5/5)