The Genson Co. uses JIT operating system with backflush costing. During the month of October, direct material costing $100,00 was used for completed work with conversion costs of $500,000. At the end...


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The Genson Co. uses JIT operating system with backflush costing. During the month of October, direct<br>material costing $100,00 was used for completed work with conversion costs of $500,000. At the end of<br>the month, $100,000 was assigned to work in process inventory account. The ending bałance of finished<br>goods inventory was $150,000.<br>Requirement: Kindly compute the ff:<br>Cost charged to the company's cost of goods sold<br>Ending balance of cost of good sold.<br>

Extracted text: The Genson Co. uses JIT operating system with backflush costing. During the month of October, direct material costing $100,00 was used for completed work with conversion costs of $500,000. At the end of the month, $100,000 was assigned to work in process inventory account. The ending bałance of finished goods inventory was $150,000. Requirement: Kindly compute the ff: Cost charged to the company's cost of goods sold Ending balance of cost of good sold.

Jun 10, 2022
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