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Cost of Goods Manufactured, Gross Margin, Operating Income

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Please help with the following problems. Please provide step by step calculations for each.

2. THE FOLLOWING INFORMATION APPLIES TO QUESTIONS 2-4.
Harding Company reports the following information:
Beginning FG Inventory, 1/1/2008 = $80,000
Ending FG Inventory, 12/31/2008= $67,000
Cost of Goods Sold = $270,000
Sales Revenue = $500,000
Operating Expenses = $145,000
What is the cost of goods manufactured for 2008?

a $230,000
b $257,000
c $283,000
d $355,000

3. What is the gross margin for 2008?

a $283,000
b $355,000
c $230,000
d $257,000

4. What is the operating income for 2008?

a $85,000.
b $112,000.
c $62,000.
d $75,000.

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Solution Summary

The following posting helps with various accounting problems. They help calculate costs of goods manufactured, gross margin and operating income. Step by step calculations are given for each solution.

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b. Cost of goods sold= beginning finished goods + Cost of Goods manufactured(x) - ...

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