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At may 31, 2017, the accounts of lopez company show the following.

13/11/2020 Client: arwaabdullah Deadline: 3 days

At May 31, 2017, the accounts of Lopez Company show the following.

1.

May 1 inventories—finished goods $15,100, work in process $15,900, and raw materials $8,600.

2.

May 31 inventories—finished goods $9,700, work in process $16,400, and raw materials $7,900.

3.

Debit postings to work in process were direct materials $63,800, direct labor $51,600, and manufacturing overhead applied $40,100.

4.

Sales revenue totaled $216,400.

At May 31, 2017, the accounts of Lopez Company sho

At May 31, 2017, the accounts of Lopez Company sho

Prepare a condensed cost of goods manufactured schedule. Prepare an income statement for May through gross profit. Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2017.

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