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Question - Question 1 IBI has just completed a year of operations, and the controller has called a meeting for tomorrow morning. As the assistant controller, you are asked to prepare the following: •Schedule of cost of goods manufactured •Income statement These will be presented to the executive committee at the meeting. Unfortunately, the last week of the fiscal year’s transactions have not yet been entered into the company’s computer system. You quickly print out a copy of the general ledger (Table 1-1) and the job cost sheets (Table 1-2) for all jobs in progress during the last week of December. (Note that all transactions in the general ledger for the first 51 weeks of the year have been summarized.) You are also able ...Read More

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