Solution-What is the balance in finished goods inventory at

What is the balance in finished goods inventory at the end

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Reference no: EM132728151

Homer Company begins operations on April 1. Information from job cost sheets shows the following.

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 30% above its cost in the month following completion.

Instructions

Problem 1: What is the balance in Finished Goods Inventory at the end of each month?

Option 1: April 30 $1,200

May 31 $11,600

June 30 $20,300

Option 2: April 30 $5,300

May 31 $11,600

June 30 $19,100

Option 3: April 30 $1,200

May 31 $12,800

June 30 $19,100

Option 4: April 30 $1,200

May 31 $11,600

June 30 $19,100

Reference no: EM132728151

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What is the balance in finished goods inventory at the end

Reference no: EM132728151

Reference no: EM132728151

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