Question

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

Answer 1

Answer:

B. $250,300.

Explanation:

We are asked to solve forthe amoung of cost of goods sold.

we add up the beginning FG and the manufactured goods

then we subtract the ending FG which represent the unsold amount

Cost Of Goods Sold

beginning Finished Goods           72,300

Cost Of Goods Manufactured 246,300

Total goods available for sale       318,600

ending FG                                 -68,300

Cost Of Goods Sold           250300

Answer 2

Answer:

$204,300

Explanation:

Cost of goods sold = Begining Finished Good Inventory + Cost of Goods Manufactured - Ending Finished Good Inventory

= 72,300 + 246,300 - 68,300

= $250,300