Junko Company manufactures financial calculators and produced 97,000 units during the year. The finished goods inventory was 1,260 units on January 1 and 1,040 units on December 31. The average unit cost is $118, what was the cost of goods manufactured and the cost of goods sold for the year?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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q2:
Junko Company manufactures financial calculators and
produced 97,000 units during the year. The finished goods
inventory was 1,260 units on January 1 and 1,040 units on
December 31. The average unit cost is $118, what was
the cost of goods manufactured and the cost of goods
sold for the year?
Please choose the correct option and show your
calculation to validate your selection:
A. $11,446,000 & $11,471,960
B. $10,839,680 & $11,446,000
C. $11,446,000 & $12,839,680
D. $10,888,240 & $11,446,000
Transcribed Image Text:q2: Junko Company manufactures financial calculators and produced 97,000 units during the year. The finished goods inventory was 1,260 units on January 1 and 1,040 units on December 31. The average unit cost is $118, what was the cost of goods manufactured and the cost of goods sold for the year? Please choose the correct option and show your calculation to validate your selection: A. $11,446,000 & $11,471,960 B. $10,839,680 & $11,446,000 C. $11,446,000 & $12,839,680 D. $10,888,240 & $11,446,000
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