Problem: Annapolis Clothing Company manufactures quality boating attire. The following selected financial information for the fiscal year 2018 is provided:
Item Amount
Sales $200,000
Cost of Goods Manufactured 52,000
Direct Material Purchased 80,000
Factory Overhead 20,000
Work in Process - January 1 60,000
Work in Process - December 31 30,000
Direct Material - December 31 20,000
Finished Goods Inventory - December 31 30,000
Net Income 30,000
Direct Materials used 60,000
Cost of Goods Sold 57,000
Required: Use this information to determine the dollar amount of Annapolis Clothing's Finished Goods Inventory for January 1, 2018.
Whenever you get stuck in any of your assignment tasks and need an expert assistance, then don't think too much and avail Dollar Amount Assignment Help service for better academic grades.
Tags: Dollar Amount Assignment Help, Dollar Amount Homework Help, Dollar Amount Coursework, Dollar Amount Solved Assignments, Finished Goods Inventory Assignment Help, Finished Goods Inventory Homework Help