Owl Bear's intern in the accounting department is trying to figure out its cost of goods manufactured. The books show a beginning inventory of 10,000, an ending inventory of 8,000, and cost of goods sold of 7,000. Can you help her?
a. Yes, it is $11,000
b. Yes, it is $9,000
c. Yes, it is $5,000
d. No
Owl Bear's intern is very grateful you helped her in figuring out the cost of goods sold, but now she is confused about how to figure out the raw materials purchased. She gives you the following information: Raw materials beginning inventory 10,000; ending inventory of 12,000; raw materials used 13,000; and finished goods of 7,000. Can you help her?
a. Yes, it is $9,000
b. Yes, it is $11,000
c. Yes, it is $15,000
d. No, I didn't help her on the last problem, and I'm not helping her now either