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Orlov [11]
4 years ago
5

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

Business
1 answer:
Vadim26 [7]4 years ago
5 0

Answer:

COGS= $250,000

Explanation:

Giving the following information:

Beginning Finished Goods Inventory $72,000

Ending Finished Goods Inventory $68,000

Cost of Goods Manufactured for the period $246,000

To calculate the cost of goods sold, we need to use the following formula:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 72,000 + 246,000 - 68,000

COGS= $250,000

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