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For 2012, Nichols Inc

Question 83

Essay

For 2012, Nichols Inc., had sales of 75,000 units and production of 100,000 units. Other information for
the year included:
For 2012, Nichols Inc., had sales of 75,000 units and production of 100,000 units. Other information for the year included: There was no beginning inventory. Required: a. Compute the ending finished goods inventory under both absorption and variable costing. b. Compute the cost of goods sold under both absorption and variable costing. There was no beginning inventory.
Required:
a. Compute the ending finished goods inventory under both absorption and variable costing.
b. Compute the cost of goods sold under both absorption and variable costing.

Correct Answer:

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a.
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