Required: Tom Winthrop estimated the units in ending work in process inventory in the final...
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Required: Tom Winthrop estimated the units in ending work in process inventory in the final processing department were complete for conversion costs. If this estimate of the percentage completion is used, what would be the cost of goods sold for the year? Does Gary Stevens want the estimated percentage completion to be increased or decreased? What percentage completion would increase net operating income by $ over the net operating income based on Winthrops original estimates?
Required: Tom Winthrop estimated the units in ending work in process inventory in the final processing department were complete for conversion costs. If this estimate of the percentage completion is used, what would be the cost of goods sold for the year? Does Gary Stevens want the estimated percentage completion to be increased or decreased? What percentage completion would increase net operating income by $ over the net operating income based on Winthrops original estimates?
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