The following information pertains to the Hewett Corporation- Calculat.docx

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The document provides financial information for Hewett Corporation and calculates the cost of goods sold for a period. It lists beginning and ending inventory amounts for direct materials, goods in process, and finished goods. It also states the cost of goods manufactured for the period was $247,700. Using this information and the formula that cost of goods sold equals cost of goods manufactured plus beginning finished goods inventory minus ending finished goods inventory, it calculates the cost of goods sold for the period was $251,700.

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The following information pertains to the Hewett Corporation. Calculate the cost of goods sold
for the period:
Anserws are: $247,700, $251,700, $259,700, $243,700, $291,700
Beginning Direct Materials $ 31,700
Ending Direct Materials 71,700
Beginning Goods in Process Inventory 41,700
Ending Goods in Process Inventory 47,700
Beginning Finished Goods Inventory 73,700
Ending Finished Goods Inventory 69,700
Cost of Goods Manufactured for the period 247,700
Solution
cost of goods sold = cost of goods manufactured for the period + beginning finished goods -
ending finished goods
= 247700+73700-69700 = $251700

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