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7 November, 00:18

Last month a manufacturing company had the following operating results: beginning finished goods inventory - $84,000; ending finished goods inventory - $71,000; sales - $505,000; gross margin - $63,000. What was the cost of goods manufactured for the month? A) $429,000. B) $492,000. C) $442,000. D) $455,000.

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  1. 7 November, 01:55
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    A) $429,000

    Explanation:

    For computing the cost of goods manufactured for the month, we have to use the formula which is displayed below:

    = Sales - Gross profit + ending finished goods inventory - beginning finished good inventory

    = $505,000 - $63,000 + $71,000 - $84,000

    = $429,000

    All items which are mentioned in the question are to be considered in the computation part.
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