The cost of goods sold for Frye Manufacturing in the year was $373,000.The January 1 Finished Goods Inventory balance was $30,200,and the December 31 Finished Goods Inventory balance was $24,000.Calculate the cost of goods manufactured during the year.

Question

Quizplus · Accepted Answer

C) Cost of goods manufactured = Cost of goods sold + Ending finished goods inventory - Beginning finished goods inventory = $373,000 + $24,000 - $30,200 = $366,800

The Cost of Goods Sold for Frye Manufacturing in the Year