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Prepare a schedule for the cost of goods sold. Finished Goods Inventory, Beginning V BYDO INC. Schedule of Cost of Goods Sold For the Year Ended December 31, 2020 $ $
Prepare a schedule for the cost of goods sold. Finished Goods Inventory, Beginning V BYDO INC. Schedule of Cost of Goods Sold For the Year Ended December 31, 2020 $ $
Raw materials, beginning inventory Purchases Raw materials, ending inventory Direct materials Direct labour Factory overhead Manufacturing costs added during the year Work in process, beginning inventory Work in process, ending inventory Cost of goods manufactured Finished goods, beginning inventory Finished goods, ending inventory Cost of goods sold Gross profit Operating expenses Operating income (loss) $13,000 13,000 ? 20,000 25,000 8,000 ? 8,000 7,000 ? 6,000 ? 55,000 9,000 ? (4,000 ) 4