Mustang Corporation has accumulated the following accounting data for the month of April: Finished goods inventory: April 1 $30,600 Finished goods inventory: April 30 25,000 Total cost of goods manufactured: 116,400a. $125,000 b. $174,200 c. $113,400 d. $62,200 e. $150,600

Question

Business

Tucker Chung

15 April, 11:03

Mustang Corporation has accumulated the following accounting data for the month of April: Finished goods inventory: April 1 $30,600 Finished goods inventory: April 30 25,000 Total cost of goods manufactured: 116,400a. $125,000 b. $174,200 c. $113,400 d. $62,200 e. $150,600

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Rory Weiss · Answer 1

a. $125,000

Explanation:

Cost of goods sold

Beginning Finished inventory $30,600

Cost of goods manufactured $116,400

Goods available for sale $147000

Ending Finished inventory ($25,000)

Cost of goods sold $122000

Therefore, The cost of goods sold is closest to $125,000.