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?

Question

Quizplus · Accepted Answer

The cost of goods sold (COGS) is calculated as the beginning finished goods inventory plus the cost of goods manufactured minus the ending finished goods inventory. Thus, COGS = $16,000 + $93,000 - $20,000 = $89,000.

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