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Home > Education > Homework Help > Finance & Accounting   »   Intermediate Accounting HELP!!

 
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Old Dec 10, 2006, 09:50 PM
voilette83
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Intermediate Accounting HELP!!

I have a problem to do in Deciphering Financial Statements. The problems for 3M. I can not for the life of me figure out how to determind the cost of goods manufactured or manufacturing costs based on the information given, and I can't find 3M's 2004 10-K Report to get any additional information. If someone could please help by giving a little hint to get me started it would be greatly appreciated.

Inventory data from 3M's 10-K Report are as follows (in millions of U.S. Dollars)
2004 2003

Cost of Goods Sold
9958 9285

Inventories
Finished goods
947 921
Work in Process
614 596
Raw Materials
336 299

Total Inventories
1897 1816

Compute the Cost of Goods Manufactured for 2004
Compute the total Manufacturing Costs for 2004

The other two parts of the problem i understand but i need a little push in the right direction for these two parts. One hint should help. Thanks.

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