Answer:
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
