The following balances are from the accounts of tappan parts: jan 1 (beginning) dec 31 (ending)direct materials inventory $ 22,100 $ 24,500 work-in-process inventory 33,000 29,400finished goods inventory 5,700 6,900 direct materials used during the year amount to $45,900 and the cost of goods sold for the year was $52,600. required: prepare a cost of goods sold statement

Tappan Parts

Cost OF Goods Sold Statement

For the year Ending

Opening Inventory Materials                        $ 22,100

Add Purchases                                             $ 48,300

Less Ending Inventory                                 $ 24,500

Materials Used (given)                                  $ 45,900

Add Conversion Costs                                  $ 4,300

Total Manufacturing Costs                         $ 50,200

Add Opening Work In Process                   $ 33,000

Less Closing Work In Process                     $ 29,400

Cost Of goods Manufactured                     $ 53,800

Add Finished Goods Opening Inventory     $ 5,700

Cost of Goods Available for Sale                  $ 48,100

Less Finished Goods Inventory                     $ 6,900

Cost of Good sold                                           $ 52,600 (given)

As the Cost Of Goods Sold and Material Used are given we use these values to calculate the rest and do reverse operations

3,500 beverages

explanation:

the answer would be voluntary exchange -

"the act of buyers and sellers freely and willingly engaging in market transactions. moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred."

hope this : )

-shy