Question - The following information is acailable for Renteria Manufacturing Company for the month ending March 31, 2008
Cost of goods manufactured- 265000 Selling Expenses- 85,000 Administrative Expenses- 45,000 Sales-540,000 Finished goods inventory, March 1- 60,000 Finished goods inventory, March 31 55,000
For the month ended in March 31, 2008, determine Renterias a. cost of goods sold b. gross profit and c. net income.