Question

A manufacturing company reports the following items: Finished goods inventory beginning balance: $1,000; Finish goods inventory ending balance: $1,200; Cost of goods manufactured $5,000. The cost of goods sold is $ .

Answer 1

Answer:

The cost of goods sold is $4,800

Explanation:

Given,

Beginning Inventory = $1,000

Ending Inventory = $1,200

Cost of goods manufactured = $5,000

Cost of goods sold = Beginning Inventory + Cost of goods manufactured - Ending Inventory.

Cost of goods sold = $1,000 + $5,000 - $1,200

Cost of goods sold = $4,800