During its first year of operations silverman company paid, Ask an Expert

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During its first year of operations, Silverman Company paid $15,085 for direct materials and $10,200 for production workers' wages. Lease payments and utilities on the production facilities amounted to $9,200 while general, selling, and administrative expenses totaled $4,700. The company produced 6,050 units and sold 3,700 units at a price of $8.20 a unit. What is the amount of finished goods inventory on the balance sheet at year-end? (Do not round intermediate calculations.)

$9,250

$13,395

$2,350

$6,698

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91958477

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