Question

For the year, Redder Company has cost of goods manufactured of $600,000, beginning finished goods inventory of $200,000, and ending finished goods inventory of $250,000. The cost of goods sold is:________.

Answer 1

Answer:

cost of goods sold =  $550,000

Explanation:

given data

beginning finished goods inventory = $200,000

cost of goods manufactured = $600,000

ending finished goods inventory = $250,000

solution

we get here cost of goods sold that is express as

cost of goods sold = beginning finished goods inventory + cost of goods manufactured - ending finished goods inventory    ...........................1

put here value and we get

cost of goods sold =  $200,000 + $600,000 - $250,000

cost of goods sold =  $550,000