Jerrico Wallboard Co. had a beginning inventory of 9,850 shoes on January 1, 20XX. The costs associated with the inventory were as follows: Material $ 12.00 per shoe Labour 7.00 per shoe Overhead 5.10 per shoe During 20XX, the firm produced 44,200 units with the following costs: Material $ 17.50 per shoe Labour 8.80 per shoe Overhead 10.30 per shoe Sales for the year were 47,590 units at $42.60 each. Jerrico uses average cost accounting. a. What was the gross profit? (Do not round intermediate calculations. Round your answer to nearest whole dollar.) Gross profit $ 393 b. What was the value of ending inventory? (Do not round intermediate calculations. Round your answer to nearest whole dollar.) Ending inventory $
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Jerrico Wallboard Co- had a beginning inventory of 9-850 shoes on Janu.docx
1. Jerrico Wallboard Co. had a beginning inventory of 9,850 shoes on January 1, 20XX. The costs
associated with the inventory were as follows: Material $ 12.00 per shoe Labour 7.00 per shoe
Overhead 5.10 per shoe During 20XX, the firm produced 44,200 units with the following costs:
Material $ 17.50 per shoe Labour 8.80 per shoe Overhead 10.30 per shoe Sales for the year were
47,590 units at $42.60 each. Jerrico uses average cost accounting. a. What was the gross profit?
(Do not round intermediate calculations. Round your answer to nearest whole dollar.) Gross
profit $ 393 b. What was the value of ending inventory? (Do not round intermediate calculations.
Round your answer to nearest whole dollar.) Ending inventory $
