A manufacturing company has a beginning finished goods inventory of $28,200, cost of goods manufactured of...
A manufacturing company has a beginning finished goods inventory of $28,200, cost of goods manufactured of $58,400, and an ending finished goods inventory of $27,500. The cost of goods sold for this company is:
A. $114,100
B. $57,700
C. $2,700
D. $85,900
E. $59,100
Homework Answers
Cost of goods sold = Beginning finished goods inventory + Cost of goods manufactured - Ending finished goods inventory
= $28,200 + $58,400 - $27,500
= $59,100
Option E.
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