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    Apr 9, 2011, 03:34 AM
    schedule COGM and COGS
    I have a test about COGM and COGS statement but I don't really understand, please you help.. ^^

    material beginning $ 150.000
    indirect materials beginning $ 30.000
    work in process beginning $ 200.000
    finish goods beginning $ 220.000

    material ending $ 120.000
    indirect materials ending $ 24.000
    work in process ending $ 160.000
    finish goods ending $ 176.000

    purchase of materials $ 274.600

    prime cost $ 600.000

    purchase of indirect materials $ 50.000
    factory security wages $ 8.000
    salesperson salaries expense $ 15.000
    factory insurance $ 12.000
    store rent expense $ 10.000
    production machine depreciation expense $ 15.000
    factory building depreciation expense $ 20.000

    prepare a statement of cost of goods manufactured and cost of goods sold.

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