Manufacturing statement for Gifford, Inc
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Information for Gifford, Inc., as of December 31 follows:
Prepare a manufacturing statement for the year ended December 31.
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The solution explains how to prepare a manufacturing statement.
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A manufacturing statement shows the total costs incurred in production of goods.
Gifford Inc
Manufacturing Statement
For the year ended Dec 31
Direct materials
Raw materials inventory, January 1 $5,000
Raw materials purchases 125,000
Raw materials available for use 130,000
Less: Raw ...
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