The cost of goods manufactured of a company is $850,000.The beginning and ending finished goods inventory are $360,000 and 250,000,respectively.Determine 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 = $850,000 + $360,000 - $250,000 = $960,000.

The Cost of Goods Manufactured of a Company Is $850,000