Question

<3

Unimart Precision Manufacturing $ 275, eee $450, eee Beginning inventory Merchandise Finished goods Cost of purchases Cost of goods manufactured Ending inventory Merchandise Finished goods 5ee, eee 900, eee 115, eee 375, eee Compute cost of goods sold for each of these two companies for the year. Complete this question by entering your answers in the tabs below. Merch Business Mfg Business Compute cost of goods sold for the company year in Merchandising Business UNIMAS Computation of Cost of Goods Sold Goods before Cost of goods sod கார uெminema Prey 2438 o e o

Answer 1

Answer -

1. Answer -

Unimart
Computation of Cost of Goods Sold
Cost of goods sold:
Merchandise beginning inventory	$275000
Add: Cost of purchases	$500000
Goods available for sale	$775000
Less: Merchandise ending inventory	$115000
Cost of goods sold	$660000

Calculation:

Goods available for sale = Merchandise beginning inventory + Cost of purchases

= $275000 + $500000

= $775000

Cost of goods sold = Goods available for sale - Merchandise ending inventory

= $775000 - $115000

= $660000

2. Answer -

Precision Manufacturing
Computation of Cost of Goods Sold
Cost of goods sold:
Finished goods beginning inventory	$450000
Add: Cost of goods manufactured	$900000
Goods available for sale	$1350000
Less: Finished goods ending inventory	$375000
Cost of goods sold	$975000

Calculation:

Goods available for sale = Finished goods beginning inventory + Cost of goods manufactured

= $450000 + $900000

= $1350000

Cost of goods sold = Goods available for sale - Finished goods ending inventory

= $1350000 - $375000

= $975000