Inventory Valuation and Cost of Goods Sold for Samsung Electronics Ltd

Inventory Valuation; Cost of Goods Sold. The cost department of the Samsung Electronics Ltd made the following data and costs available for the year 20XX:Inventories:                                                  Jan. 1 Dec.               31 Dec. 31Raw materials                                               S34,200                  $49,300Work in process....                                         81,500                     42,350Finished goods                                               48,600                        ?Depreciation ON FACTORY Equipment  —                                 21,350Interest earned                                                                                6,300 Freight-in                                                                                        8,600Indirect labor                                                                                83,400 Raw materials purchased                                                          $364,000 Direct labor                                                                               162,500Miscellaneous factory overhead .                                                  47,900 Purchases discounts                                                                       5,200Finished goods inventory: January 1: 300 units; December 31: 420 units, all from current year's production.Sold during 20xx— : 3,880 units at $220 per unit.Required: (1) The unit cost of the finished goods inventory, December 31.(2) The total value of the finished goods inventory, December 31.(3) The cost of goods sold.(4) The gross profit total and the gross profit per unit.

 

 

Alpha Geek

(8)

Status NEW Posted 05 May 2017 01:05 PM My Price 8.00

-----------

Attachments

file 1493991887-Answer.docx preview (280 words )

I-----------nve-----------nto-----------ry -----------Val-----------uat-----------ion----------- an-----------d C-----------ost----------- of----------- Go-----------ods----------- So-----------ld -----------for----------- Sa-----------msu-----------ng -----------Ele-----------ctr-----------oni-----------cs -----------Ltd----------- I-----------nve-----------nto-----------ry -----------Val-----------uat-----------ion-----------; C-----------ost----------- of----------- Go-----------ods----------- So-----------ld.----------- Th-----------e c-----------ost----------- de-----------par-----------tme-----------nt -----------of -----------the----------- Sa-----------msu-----------ng -----------Ele-----------ctr-----------oni-----------cs -----------Ltd----------- ma-----------de -----------the----------- fo-----------llo-----------win-----------g d-----------ata----------- an-----------d c-----------ost-----------s a-----------vai-----------lab-----------le -----------for----------- th-----------e y-----------ear----------- 20-----------XX:-----------Inv-----------ent-----------ori-----------es:----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â -----------  -----------Jan-----------. 1----------- De-----------c.Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- 31----------- De-----------c. -----------31R-----------aw -----------mat-----------eri-----------als----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- 

Not Rated(0)

• Buy Answer