Product cost flow - Devon Motor Company
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April Battery purchases at cost 8000 10 80000
Inventory withdrawn -7600
Batteries used 100
90% transferred to finished goods
30% unsold in April
Calculate COGS and explain how you got it.
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Solution Summary
The solution explains how to calculate the cost of inventory - raw material, work in process, finished goods and cost of goods sold for Exercise 2-12 relating to Devon Motor Company
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April Battery purchases at cost 8000 10 80000
Inventory withdrawn -7600
Batteries used 100
90% transferred to finished goods
30% unsold in april
Raw materials 8000 10 80000
Work in Progress 7500 10 75000
Finished Goods 6750 10 67500
Cost of Goods Sold 57500 ?
Selling Expense 100 10 1000
30% unsold 2250 10 22500
Balance Sheet as of Aprin 30th
Current Assets
Raw Materials 80000
Finished ...
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