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July 4, 2015

Homework Help: Accounting

Posted by Anonymous on Saturday, June 22, 2013 at 11:54pm.

Zeke Company is a manufacturing company that has worked on several production jobs during the 1st quarter of the year. Below is a list of all the jobs for the quarter:

Balance
Job 356
$ 450
Job 357
$1,235
Job 358
$ 378
Job 359
$ 689
Job 360
$ 456

Job 356, 357, 358 & 359 were completed. Jobs 356 & 357 were sold at a profit of $500 on each job.

What is the ending balance of Cost of Goods sold for Zeke Company as of the end of the 1st quarter?
Answer

$456

$2,685

$1,685

$685

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