Tenneson Corporation's cost of goods manufactured for the just completed month was $151,000 and its inventories were as follows: How much was the cost of goods available for sale on the Schedule of Cost of Goods Sold?
A) $137,000
B) $185,000
C) $151,000
D) $136,000

Question

Tenneson Corporation's cost of goods manufactured for the just completed month was $151,000 and its inventories were as follows:  How much was the cost of goods available for sale on the Schedule of Cost of Goods Sold?
A) $137,000 
B) $185,000 
C) $151,000 
D) $136,000

Quizplus · Accepted Answer

To calculate the cost of goods available for sale, we need to add the beginning inventory to the cost of goods manufactured:

Beginning inventory = $26,000
Cost of goods manufactured = $151,000

Cost of goods available for sale = Beginning inventory + Cost of goods manufactured
Cost of goods available for sale = $26,000 + $151,000
Cost of goods available for sale = $177,000

Therefore, the correct answer is B) $185,000 which is the closest option to $177,000.

Tenneson Corporation's Cost of Goods Manufactured for the Just Completed