Question - Winter Trailers' job cost records yielded the following information:
|
Job No.
|
Date
|
Total Cost of Job at July 31
|
|
Started
|
Finished
|
Sold
|
|
1
|
June 21
|
July 16
|
July 17
|
$3,000
|
|
2
|
June 29
|
July 21
|
July 26
|
13,800
|
|
3
|
July 3
|
August 11
|
August 13
|
6,700
|
|
4
|
July 7
|
July 29
|
August 1
|
4,800
|
Use the dates in the table to identify the status of each job. Compute the following balances for Winter Trailers:
a. Work-in-Process Inventory at July 31
b. Finished Goods Inventory at July 31
c. Cost of Goods Sold for July