Ask Question
4 September, 22:01

A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of $18,000, cost of goods manufactured of $32,500, and an ending finished goods inventory of $17,800. The cost of goods sold for this company is:

+1
Answers (1)
  1. 5 September, 01:46
    0
    The cost of goods sold for this company is$29,300

    Explanation:

    Cost of Goods sold is the cost of all the goods that is sold during the period excluding the cost of available Inventory.

    Cost of Goods Manufactured is the cost of all the goods that is manufactured during the period including the cost of available Inventory.

    As per given data

    Beginning finished goods inventory = $14,600

    Cost of goods manufactured = $32,500

    Ending finished goods inventory = $17,800

    Cost of Goods Sold = Cost of Goods Manufactured + Beginning finished goods inventory - Ending finished goods inventory

    Cost of Goods Sold = $32,500 + $14,600 - $17,800 = $29,300
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of $18,000, cost of goods manufactured ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers