Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of June,...
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Accounting
Cost of Goods Sold
Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $513,000. Suppose that on June 1, Slapshot had 660 units in finished goods inventory costing $160,000 and on June 30, 930 units in finished goods inventory costing $215,000.
1. Prepare a cost of goods sold statement for the month of June.
Slapshot Company
Cost of Goods Sold Statement
For the Month of June
Cost of goods manufactured
$
Finished goods inventory, June 1
Finished goods inventory, June 30
Cost of goods sold
$
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Set up T account for finished goods inventory account.
2. Calculate the number of sticks that were sold during June. _______ units
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