The Following Data Is Related to Sales and Production of the Tauro

question 169

Essay

The following data is related to sales and production of the Tauro Corporation for last year.
Required:
a. Prepare an income statement for last year using absorption costing.
b. Calculate the value of the ending inventory using absorption costing.
c. Prepare an income statement for last year using variable costing.
d. Calculate the value of the ending inventory using variable costing.

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