managerial accounting

Business & Finance
Tutor: None Selected Time limit: 1 Day

Apr 21st, 2015

   Norton Company

      Cost of goods sold - March  ($200,000 *60%)                  $120,000

      Add: Ending inventory - March ($180,000*60%*30%)          32,400

      Available for sales                                                             $152,400

      Less: Opening inventory- March                                          36,000

      Purchases during March                                                  $116,400

     

  Cost of goods sold - April  ($180,000 *60% )                        $108,000

      Add: Ending inventory - April ($220,000*60%*30%)             39,600

      Available for sales                                                             $147,600

      Less: Opening inventory- April                                             32,400

      Purchases during  April                                                    $115,200

     Purchases in April is $115,200.

     


Apr 21st, 2015

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