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3 years ago

Miami Corp. obtained the following information from its accounting records:

Business

1 answer:

Alex Ar [27]3 years ago

4 0

Answer:

cost of goods manufactured= $5,000

Explanation:

Giving the following information:

Beginning Finished Goods Inventory= 12,000

Ending Finished Goods Inventory= 8,000

Cost of Goods Sold= $9,000

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

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

Isolating cost of goods manufactured

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

cost of goods manufactured= -12,000 + 9,000 + 8,000

cost of goods manufactured= $5,000

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