Mustang Corporation has accumulated the following accounting data for the month of April: $\begin{array}{ll}
\text { Finished goods inventory, January 1 } & \$ 3,200 \
\text { Finished goods inventory, December } 31 & 4,000 \
\text { Total cost of goods sold } & 14,200
\end{array}$
The cost of goods sold for the year is:
A) $59,700.
B) $169,300.
C) $144,700.
D) $108,900.
E) $120,100.

Question

Mustang Corporation has accumulated the following accounting data for the month of April: $\begin{array}{ll}
\text { Finished goods inventory, January 1 } & \$ 3,200 \
\text { Finished goods inventory, December } 31 & 4,000 \
\text { Total cost of goods sold } & 14,200
\end{array}$ 
The cost of goods sold for the year is:
A) $59,700.
B) $169,300.
C) $144,700.
D) $108,900.
E) $120,100.

Quizplus · Accepted Answer

The Answer of Mustang Corporation has accumulated the following accounting data for the month of April: $\begin{array}{ll}
\text { Finished goods inventory, January 1 } & \$ 3,200 \
\text { Finished goods inventory, December } 31 & 4,000 \
\text { Total cost of goods sold } & 14,200
\end{array}$ 
The cost of goods sold for the year is:
A) $59,700.
B) $169,300.
C) $144,700.
D) $108,900.
E) $120,100.

Mustang Corporation Has Accumulated the Following Accounting Data for the Month