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The following inventory balances relate to Megan's Manufacturing Company at the Beggining and end of the year: Raw Materials: Beggining $20,000, Ending $15,000. Work In Progress:Beginning $10,000, Ending $20,000. Finished Goods: Beginning $15,0000, Ending $3,000. Megan's sales were $250,000, total manufacturing costs were $170,000, and her selling and adminastrative costs were $50,000. Labeling all of your work , please calculate net income for this year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9964573

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