During January,the cost of goods manufactured was $93,000.The beginning finished goods inventory was $16,000,and the ending finished goods inventory was $20,000.What was the cost of goods sold for the month?
A) $129,000.
B) $89,000.
C) $93,000.
D) $97,000.

Question

Quizplus · Accepted Answer

The cost of goods sold (COGS) can be calculated using the formula: COGS = Beginning Finished Goods Inventory + Cost of Goods Manufactured - Ending Finished Goods Inventory. Plugging in the given values: COGS = $16,000 + $93,000 - $20,000 = $89,000.

During January,the Cost of Goods Manufactured Was $93,000