The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:

Beginning Raw Materials $ 30,300

Ending Raw Materials 70,300

Beginning Work in Process Inventory 40,300

Ending Work in Process Inventory 46,300

Beginning Finished Goods Inventory 72,300

Ending Finished Goods Inventory 68,300

Cost of Goods Manufactured for the period 246,300

A. $246,300.

B. $250,300.

C. $258,300.

D. $242,300.

E. $290,300.

Question

Business

Julia Werner

30 June, 10:03

The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:

Beginning Raw Materials $ 30,300

Ending Raw Materials 70,300

Beginning Work in Process Inventory 40,300

Ending Work in Process Inventory 46,300

Beginning Finished Goods Inventory 72,300

Ending Finished Goods Inventory 68,300

Cost of Goods Manufactured for the period 246,300

A. $246,300.

B. $250,300.

C. $258,300.

D. $242,300.

E. $290,300.

+2

Answers (1)

Know the Answer?

Jameson Novak · Answer 1

B. $250,300.

Explanation:

We are asked to solve forthe amoung of cost of goods sold.

we add up the beginning FG and the manufactured goods

then we subtract the ending FG which represent the unsold amount

Cost Of Goods Sold

beginning Finished Goods 72,300

Cost Of Goods Manufactured 246,300

Total goods available for sale 318,600

ending FG - 68,300

Cost Of Goods Sold 250300