During its first year of operations,a company that incurred $1,000 in production costs reported cost of goods sold of $800 and selling costs of $100.Its ending finished goods inventory was $300.

Name: During its first year of operations,a company that incurred $1,000 in production costs reported cost of goods sold of $800 and selling costs of $100.Its ending finished goods inventory was $300.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Finished goods inventory = Production costs of $1,000 - Cost of goods sold of $800 = $200

During Its First Year of Operations,a Company That Incurred $1,000