Prepare a one-page memorandum to your supervisor outlining your presentation to the marketing staff. Shown here are annual financial data at December 31 2011 taken from two different companies.
Pinnacle Retail Slope Board Manufacturing
Finished goods $300000
Cost of Purchases 250000
Cost of goods manufactured 586000
Finished 200000 Compute the cost of goods sold section of the income statement at December 31 2011 for each company. Include the proper title and format in the solution.
Write a half-page memorandum to your instructor (a) identifying the inventory accounts and (b) describing where each is reported on the income statement and
balance sheet for both companies.