Question:
Accounting for job costs Sloan Trailers' job cost records yielded the following information:
|
Job No.
|
|
Date
|
|
Total Cost of Job
|
|
Started
|
Finished
|
Sold
|
at September 30
|
|
1
|
August 21
|
September 16
|
September 17
|
$3,100
|
|
2
|
August 29
|
September 21
|
September 26
|
13,000
|
|
3
|
September 3
|
October 11
|
October 13
|
6,900
|
|
4
|
September 7
|
September 29
|
October 1
|
4,400
|
Requirement
1. Use the dates in the table to identify the status of each job. Compute Sloan's cost of (a) Work in process inventory at September 30, (b) Finished goods inventory at September 30, and (c) Cost of goods sold for September.