13.Armorrell Corporation began 2007 with $115,000 of raw material inventory, $250,000 of work-in-process inventory, and $98,000 of finished goods inventory. During the year, Armorrell purchased $560,000 of raw material and used $540,000 in production. Labor used in production during the year was $1,120,000. Overhead was $640,000. Cost of goods completed was $2,370,000 and cost of goods sold was $2,340,000.
Required:
Prepare a schedule to determine ending balances for raw material, work-in-process, and finished goods inventories.
Ending finished goods inventory$ 128,000
14.The following inventory information is available for Donaldson Company:
UnitsUnit costTotal cost
Beginning inventory400$56$22,400
Jan. 14 purchase1,0006666,000
Jan. 25 purchase1,0007070,000
Ending inventory600
Required:
Fill in the table below (assume periodic inventory method).
FIFOLIFOWeighted average
Ending inventory
Cost of goods sold
15.The following inventory information is available for San Pedro Company:
Units Unit cost Total cost
Beginning inventory300$28$ 8,400
May 9 purchase1,0003232,000
May 16 sale900
May 20 purchase1,0003636,000
May 25 sale1,200
Required:
Using the perpetual method, fill in the table below. Round the final answer to the nearest $.01.
FIFOLIFOWeighted average
Ending inventory
Cost of goods
sold