Question

Mustang Corporation reports the following for the month of April: Finished goods inventory, April 1 $ 33,400 Finished goods inventory, April 30 27,300 Total cost of goods manufactured 127,000 The cost of goods sold for April is:

Answer 1

Answer:

$133,100

Explanation:

Given that,

Finished goods inventory, April 1 = $33,400

Finished goods inventory, April 30 = $27,300

Total cost of goods manufactured = $127,000

Cost of goods sold:

= Cost of goods manufactured + Beginning Finished goods inventory - Ending Finished goods inventory

= $127,000 + $33,400 - $27,300

= $133,100

Therefore, the cost of goods sold for April is $133,100.