A manufacturing company has a beginning finished goods inventory of $28,800, cost of goods manufactured of $59,000, and an ending finished goods inventory of $28,100. The cost of goods sold for this company is

Question

Business

Amara Noble

22 December, 07:37

A manufacturing company has a beginning finished goods inventory of $28,800, cost of goods manufactured of $59,000, and an ending finished goods inventory of $28,100. The cost of goods sold for this company is

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Answers (1)

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Jaliyah Rose · Answer 1

The cost of goods sold for this company is $59,700

Explanation:

Cost of goods sold = Beginning finished goods inventory + Cost of goods manufactured - Ending finished goods inventory

In the company:

Beginning finished goods inventory: $28,800

Cost of goods manufactured: $59,000

Ending finished goods inventory: $28,100

Therefore,

Cost of goods sold = $28,800 + $59,000 - $28,100 = $59,700