Cost of goods sold–merchandiser and manufacturer
The following data were taken from the general ledgers and other sources of Charlie Manufacturing Inc. and Delta Merchandising Co. on April 30 of the current year:
Merchandise inventory, April 1 . . . . . . . . . . . . . . . . . . . . . $ 38,000
Finished goods, April 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . 67,000
Purchases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121,000
Cost of goods manufactured . . . . . . . . . . . . . . . . . . . . . . . 287,000
Merchandise inventory, April 30 . . . . . . . . . . . . . . . . . . . . 33,000
Finished goods, April 30 . . . . . . . . . . . . . . . . . . . . . . . . . . 61,000
Required:
1. Compute the cost of goods sold for Delta Merchandising Co., selecting the appropriate items from the previous list.
2. Compute the cost of goods sold for Charlie Manufacturing Inc., selecting the appropriate items from the previous list.
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