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14 July, 11:57

Beginning finished goods inventory was $130,000. The cost of goods manufactured for the month was $760,000. The ending finished goods inventory was $150,000. What was the cost of goods sold for the month? a. $ 20,000b. $740,000c. $780,000d. $760,000

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  1. 14 July, 14:58
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    b. $740,000

    Explanation:

    The computation of the cost of goods sold is calculated by applying the formula which is shown below:

    = Beginning finished goods inventory + cost of goods manufactured or purchased - ending finished goods inventory

    = $130,000 + $760,000 - $150,000

    = $740,000

    Here, the cost of goods manufactured means purchase of the inventory
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