Question

Root Trailers' job cost records yielded the following information: (Click the icon to view the job cost information.) Data Table Use the dates above to identify the status of each job. Compute the following balances for Root: a. Work-in-Process Inventory at July 31 b. Finished Goods Inventory at July 31 c. Cost of Goods Sold for July Date Job No. Started Sold July 17 Total Cost of Job at July 31 $ 3,400 13,700 Finished July 16 July 21 1 June 21 Job July 26 Total Cost of Job at July 31 Status of Job at July 31 2 3 4 June 29 July 3 July 7 August 11 Begin by identifying the status of each job. Date No. Started Finished Sold 1 June 21 July 16 July 17 2 June 29 July 21 July 26 3 July 3 August 11 August 13 4 July 7 July 29 August 1 August 13 6,000 $ Sold July 29 August 1 4,400 Sold 3,400 13,700 6,000 4,400 Print Work in process Finished goods Print Done Done a. Compute Work-in-Process Inventory at July 31. (If a box is not used in the table, leave the box empty; do not select a label or enter a zero.) Job Cost Total

Answer 1

Work in process inventory

Job	Cost
3	6000
Total	6000

Finished goods inventory

Job	Cost
4	4400
Total	4400

Cost of goods sold:

Job	Cost
1	3400
2	13700
Total	17100