Asked by Anonymous
Zeke Company is a manufacturing company that has worked on several production jobs during the 1st quarter of the year. Below is a list of all the jobs for the quarter:
Balance
Job 356
$ 450
Job 357
$1,235
Job 358
$ 378
Job 359
$ 689
Job 360
$ 456
Job 356, 357, 358 & 359 were completed. Jobs 356 & 357 were sold at a profit of $500 on each job.
What is the ending balance of Cost of Goods sold for Zeke Company as of the end of the 1st quarter?
Answer
$456
$2,685
$1,685
$685
Balance
Job 356
$ 450
Job 357
$1,235
Job 358
$ 378
Job 359
$ 689
Job 360
$ 456
Job 356, 357, 358 & 359 were completed. Jobs 356 & 357 were sold at a profit of $500 on each job.
What is the ending balance of Cost of Goods sold for Zeke Company as of the end of the 1st quarter?
Answer
$456
$2,685
$1,685
$685
Answers
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