Given that the cost of goods manufactured is $485,000 and the dollar values of the beginning and ending finished goods inventory are $130,000 and $90,000, respectively, what is the cost of goods sold?

Question

Quizplus · Accepted Answer

The cost of goods sold is calculated as: Cost of Goods Manufactured + Beginning Finished Goods Inventory - Ending Finished Goods Inventory = $485,000 + $130,000 - $90,000 = $525,000.

Given That the Cost of Goods Manufactured Is $485,000 and the Dollar