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27 December, 16:00

Zimmer, Inc. started the month of January with beginning finished goods inventory of $20,000. The cost of goods manufactured during the month was $120,000 and the ending finished goods inventory was $50,000. What is the unadjusted cost of goods sold for January?

a.$90,000

b.$120,000

c.$140,000

d.$150,000

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Answers (1)
  1. 27 December, 17:16
    0
    The correct answer is A.

    Explanation:

    Giving the following information:

    Beginning finished goods inventory of $20,000

    The cost of goods manufactured during the month was $120,000

    Ending finished goods inventory was $50,000

    To calculate the cost of goods sold, we need to use the following formula:

    COGS = beginning finished inventory + cost of goods manufactured - ending finished inventory

    COGS = 20,000 + 120,000 - 50,000 = $90,000
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