Coronado Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Number April May June Month Completed 10 $6,200 $4,900 May 11 5,000 4,700 $3,100 June 12 1,500 April 13 5,600 4,600 June 14 7,000 4,100 Not complete Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed in June. Each job was sold for 25% above its cost in the month following completion. 1. What is the balance in Work in Process Inventory at the end of each month?2. What is the balance in Finished Goods Inventory at the end of each month?3. What is the gross profit for May, June, and July?
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Coronado Company begins operations on April 1. Information from job cost sheets shows the following....
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