For this problem, you do have all the details you need, so take your time and...
For this problem, you do have all the details you need, so take your time and carefully check your math and critical thinking skills with this question. Hollern Combines, Inc. has $10,000 of ending finished goods inventory as of December 31, 2008. If beginning finished goods inventory was $5,000 and cost of goods sold was $20,000, how much would Hollern report for cost of goods manufactured?
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$22,500 |
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$5,000 |
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$25,000 |
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$15,000 |
Homework Answers
Ending inventory = Beginning inventory + Cost of goods manufactured - Cost of goods sold
$10,000 = $5,000 + Cost of goods manufactured - $20,000
Cost of goods manufactured = $25,000
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