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  3. 2. glycogen corp began working in 2018 on a contra

2. Glycogen Corp began working in 2018 on a contract for $1,200,000. Other data are...

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Accounting

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2. Glycogen Corp began working in 2018 on a contract for $1,200,000. Other data are as follows 2019 Costs incurred to date Estimated costs to complete Billings to date Collections to date 300,000 450,000 420,000 360,000 800,000 1,200,000 950,000 If Glycogen uses the percentage-of-completion method, how much of the gross profit should be recognized in the year 2018 [8 points a) If Glycogen uses the completed-contract method, how much of the gross profit should be recognized in the year 2019? (3 points b)

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