Question

What is the cost of goods manufactured? Average Total Assets $36,451,836 Beginning Inventory $2,630,956 Cost of...

What is the cost of goods manufactured?

Average Total Assets $36,451,836

Beginning Inventory $2,630,956

Cost of Goods Sold    $7,670,367

Ending Inventory    $2,060,400

Net Sales $14,167,895

$7,099,811

$8,240,923

$9,730,767

$10,301,323

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Answer #1

Cost of Goods Sold = Beginning inventory + Cost of Goods manufactured - Ending inventory

Cost of Goods manufactured = Cost of Goods Sold - Beginning inventory + Ending inventory

= 7,670,367 - 2,630,956 + 2,060,400

= 7,099,811

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