Root Trailers\' job cost records yielded the following information: (Click the i

Question

Root Trailers' job cost records yielded the following information: (Click the icon to view the job cost information.) Use the dates above to identify the status of each job. Compute the following balances for Root a. Work-in-Process Inventory at June 30 b. Finished Goods Inventory at June 30 c. Cost of Goods Sold for June Begin by identifying the status of each job. Job Date Total Cost of Job Status of Job at Sold Finished June 16 June 21 July 11 June 29 No. Started at June 30 June 30 1May 21 2 May 29 3 June 3 4 June 7 June 17 June 26 July 13 July 1 3,900 13,600 6,000 4,500 Finished goods Sold Work in process

Explanation / Answer

Job-1 Sold Job-2 Sold Job-3 Work in process Job-4 Finished goods a Work in prcoess = 6000 b Finished goods = 4500 c Cost of goods sold = 3900+13600= 17500

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