(Answered) Question - during its first year of operations silverman

Accounting

Question - During its first year of operations, Silverman Company paid $10,385 for direct materials and $11,400 for production workers' wages. Lease payments and utilities on the production facilities amounted to $10,400 while general, selling, and administrative expenses totaled $3,100. The company produced 7,850 units and sold 4,900 units at a price of $6.60 a unit.

What is the amount of finished goods inventory on the balance sheet at year-end?

$2,950

$6,048

$12,095

$12,250

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