Unimart Precision Manufacturing Beginning inventory
Merchandise $275,000
Finished goods $450,000
Cost of purchases 500,000
Cost of goods manufactured 900,000
Ending inventory
Merchandise 115,000
Finished goods 375,000

Required:
Compute cost of goods sold for each of these two companies for the year.

Cost of goods sold for each of these two companies for the year :

Unimart  =  $660,000

Precision Manufacturing = $975,000

Explanation:

Note : I have attached the full question as image below.

Unimart

Beginning Merchandise Inventory                  $275,000

Add Purchases                                                 $500,000

Less Ending Merchandise Inventory               ($115,000)

Cost of Goods Sold                                          $660,000

Precision Manufacturing

Beginning Finished Goods Inventory            $450,000

Add Cost of Goods Manufactured                 $900,000

Less Ending Finished Goods Inventory        ($375,000)

Cost of Goods Sold                                         $975,000

account balance book uk

answer; buying the bill at a discount from the face value to be received at maturity;