Swifty Corp. designs and manufactures mascot uniforms for high
school, college, and professional sports teams. Since each team’s
uniform is unique in color and design, Swifty uses a job order
costing system. On January 1, the T-accounts for some of Swifty’s
primary balance sheet accounts were as follows:
Raw Materials
Inventory
Work in Process
Inventory
Beg.
18,200
Beg.
30,700
Finished Goods
Inventory
Cash
Beg.
22,000
Beg.
36,400
Accounts
Receivable
Accounts
Payable
Beg.
72,700
Beg.
42,800
During the year, the following...