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Fundamentals of cost accounting - 3rd edition

1. The financial records for the Lee Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts.

a) What is the amount of the materials purchased? 

b) What is the value of the ending Work-in-Process inventory balance? 

c) What is the value of the beginning Finished Goods Inventory? 

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Solution Summary

The solution finds out material purchased, ending value of inventory, ending value of finished goods for with given data when the financial records for the Lee Manufacturing Company have been destroyed in a fire.

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