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 is calculated as: Beginning Finished Goods Inventory + Cost of Goods Manufactured - Ending Finished Goods Inventory = $16,000 + $93,000 - $20,000 = $89,000.

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