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5 September, 03:23

Damsel, Inc. is a large manufacturer of auto tires. Damsel has provided the following information:Sales Revenue $75,000Beginning Finished Goods Inventory 28,000Cost of Goods Sold 36,500Cost of Goods Manufactured 43,000Calculate the amount of ending Finished Goods Inventory reported on Damsel's balance sheet.

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  1. 5 September, 04:47
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    ending finished inventory = $34,500

    Explanation:

    Giving the following information:

    Damsel has provided the following information:

    Sales Revenue $75,000

    Beginning Finished Goods Inventory 28,000

    Cost of Goods Sold 36,500

    Cost of Goods Manufactured 43,000

    Cost of goods sold = beginning finished inventory + cost of goods manufactured - ending finished inventory

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

    ending finished inventory = 28000 + 43000 - 36500 = 34,500
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