Lakeside Manufacturing provided the following information for the month ended March 31
Sales Revenue $26,000
Beginning Finished Goods Inventory 8,000
Ending Finished Goods Inventory 13,500
Cost of Goods Manufactured 15,600
Compute cost of goods available for sale.
A) $15,600
B) $29,100
C) $23,600
D) $10,100
C .C)
Lakeside Manufacturing
Income Statement
Month Ended March 31, 20XX
Revenues:
Sales Revenue $26,000
Cost of Goods Sold
Beginning Finished Goods Inventory $8,000
Cost of Goods Manufactured 15,600
Cost of Goods Available for Sale 23,600
Ending Finished Goods Inventory (13,500 )
Cost of Goods Sold 10,100
Gross Profit $15,900
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