Figure 5-9.Warwick Company has the following transactions for the month of September:
Balances at the beginning of the month were:

-Refer to Figure 5-9. What is the ending balance of Finished Goods?

Question

Figure 5-9.Warwick Company has the following transactions for the month of September:
  Balances at the beginning of the month were:
 
-Refer to Figure 5-9. What is the ending balance of Finished Goods?

Quizplus · Accepted Answer

The ending balance of Finished Goods can be calculated by adding the cost of goods manufactured to the beginning balance of Finished Goods and subtracting the cost of goods sold. 
Beginning balance of Finished Goods: $23,321 
Cost of goods manufactured: $78,540 
Subtotal: $101,861 
Cost of goods sold: $72,321 
Ending balance of Finished Goods: $29,540