Hoovern Company provided the following data for May: $\begin{array}{lr}
\text { Direct materials } & \$ 60,000 \
\text { Direct labour } & \$ 30,000 \
\text { Manufacturing overhead } & \$ 80,000 \
\text { Beginning finished goods inventory } & \$ 15,000 \
\text { Ending finished goods inventory } & \$ 34,000 \
\text { Production in units } & 10,000
\end{array}$ What is the cost of goods sold?

Question

Quizplus · Accepted Answer

Cost of goods sold = Beginning finished goods inventory + Cost of goods manufactured - Ending finished goods inventory= 15,000 + (60,000 + 30,000 + 80,000) - 34,000= 15,000 + 170,000 - 34,000= 151,000

Hoovern Company Provided the Following Data for May What Is the Cost of Goods Sold? A) $75,000 B)

Hoovern Company Provided the Following Data for May What Is the Cost of Goods Sold?
A) $75,000
B)