Question

-Take Test Concept Check RS Blackboard Organizations Content Collection Libraries Support QUESTION 15 Foodek Ine Selected Financial Intormation (S mm 20122014 5364 223 $296 Cost of goods soa 168 Net income Finished goods toy 34 Accounts necevable Accounts paryab e xed assets Year end cash batance 186 Piease reter to the tinancial information for Foodek, Inc above O 194 O 223 0 252 39 3s0 123 During 2014, what was the cost of merchandse in S mm) produced by Foodek? O 218 O none ot he above QUESTION 16 Safelite AutoGlass

The answer is not 223

Answer 1

Answer:

Correct answer is:

218

Explanation:

Cost of merchandise sold = Cost of merchandise produced + Beginning Finished Goods Inventory - Ending Finished Goods Inventory

Hence:

Cost of merchandise produced (in $ mn) = Cost of merchandise sold - Beginning Finished Goods Inventory + Ending Finished Goods Inventory

= 223 - 34 + 29

= 218

As such option E is correct and other options A, B, C, D and F are incorrect.