Current Attempt in Progress
Wildhorse Manufacturing Company has the following data as of June 30, 2022:
Raw materials inventory, June 1
$ 14,700
Work in process inventory, June 1
23,000
Finished goods inventory, June 1
33,600
Total manufacturing costs
124,400
Sales
707,400
Work in process inventory, June 30
37,100
Finished goods inventory, June 30
47,200
Raw materials inventory, June 30
21,100
Prepare an income statement through gross profit for the month of June.
WILDHORSE MANUFACTURING COMPANY
Partial Income Statement
For the Month Ended June 30, 2022
Indicate the balance sheet presentation of the June 30 inventories. List Current Assets in order of liquidity.