The Finished Goods Inventory and Cost of Goods Sold for a manufacturing company for the year 20xx are as follows: January 1 Finished Goods Inventory,$382,500; December 31 Finished Goods Inventory,$270,000; Cost of Goods Sold for the year,$1,488,000.The cost of goods manufactured for the year was

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The cost of goods manufactured is calculated as: Beginning Finished Goods Inventory + Cost of Goods Manufactured - Ending Finished Goods Inventory = Cost of Goods Sold. Rearranging gives Cost of Goods Manufactured = Cost of Goods Sold + Ending Finished Goods Inventory - Beginning Finished Goods Inventory = $1,488,000 + $270,000 - $382,500 = $1,375,500.

The Finished Goods Inventory and Cost of Goods Sold for a Manufacturing