Perpetual Inventories The following summary data are from the job order cost sheets of Castle Company: Dates Total costs Assigned Total Production Job Started Finished Shipped at September 30 Costs Added in October 1 9/10 9/20 10/11 $9,000 2 9/17 9/29 10/22 6,600 3 9/25 10/11 10/27 3,500 $7,100 4 9/27 10/19 11/4 4,400 5,700 5 10/14 11/10 11/18 3,200 6 10/23 11/17 11/29 4,900 Using the above data, compute:
(a) the finished goods inventory at October 1 and October 31,
(b) the work in process inventory at October 1 and October 31, and
(c) the cost of goods sold for October. Castle began operations with Job 1.
a. Finished goods inventory at October 1:
Finished goods inventory at October 31:
b. Work in process inventory at October 1:
Work in process inventory at October 31:
c. Cost of goods sold for October:

Answer and Explanation:

The computation of each point is shown below:-

a. The finished goods inventory at October 1 = $9,000 + $6,600

= $15,600

the finished goods inventory at October 31 = $4,400 + 5,700

= $10,100

b. the work in process inventory at October 1 = $3,500 + $4,400

= $7,900

the work in process inventory at October 31 = $3,200 + $4,900

= $8,100

c. the cost of goods sold for October.

Castle start operations with Job 1

= $9,000 + $6,600 + $3,500 + $7,100

= $26,200

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3

answer(b) partnership';