Stevens Manufacturing Company reported the following year-end information: beginning work in process inventory $180,000; cost of goods manufactured $516,000; beginning finished goods inventory $252,000; ending work in process inventory $220,000; and ending finished goods inventory $264,000. Stevens Manufacturing Company's cost of sales for the year is:
A) $504,000.
B) $528,000.
C) $476,000.
D) $252,000.

Question

Quizplus · Accepted Answer

Cost of sales equals: $252,000 + $516,000 - $264,000 = $504,000.

Stevens Manufacturing Company Reported the Following Year-End Information: Beginning Work