Juliet Corporation has accumulated the following accounting data for the year:
Finished goods inventory,January 1 ……….$3,200
Finished goods inventory,December 31 …... 4,000
Total cost of goods sold ……………………. 4,200
The cost of goods manufactured for the year is:
A)$ 200.
B)$1,000.
C)$5,000.
D)$6,400.
E)$8,200.

Question

Quizplus · Accepted Answer

Beginning Finished Goods + Cost of Goods Manufactured - Ending Finished Goods = Cost of Goods Sold; $4,200 - $3,200 + $4,000 = $5,000

Juliet Corporation Has Accumulated the Following Accounting Data for the Year