The gross margin for Corona Company for the third quarter of the year was R3 250 000, when sales were R7 000 000. The beginning inventory of finished goods was R600 000 and the ending inventory of finished goods was R850 000. The cost of goods manufactured for the third quarter would have been: A. R3 850 000 B. R3 750 000 C. R4 000 000 D. R3 500 000

The gross margin for Corona Company for the third quarter of the year was R3 250 000, when sales were R7 000 000. The beginning inventory of finished goods was R600 000 and the ending inventory of finished goods was R850 000. The cost of goods manufactured for the third quarter would have been: A. R3 850 000 B. R3 750 000 C. R4 000 000 D. R3 500 000

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 3CE: Pietro expects to produce 50,000 units and sell 49,300 units. Beginning inventory of finished goods...

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Pietro expects to produce 50,000 units and sell 49,300 units. Beginning inventory of finished goods is 42,500, and ending inventory of finished goods is expected to be 34,000. Required: 1. Prepare a statement of cost of goods sold in good form. 2. What if the beginning inventory of finished goods decreased by 5,000? What would be the effect on the cost of goods sold?
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