Question

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

Answer 1

Answer:

b.$131,300.

Explanation:

Cost of Goods Manufactures = $129,800

Beginning Finished Goods Inventory = $22,500

Ending Finished Goods Inventory = $21,000

Cost of Goods Sold = Cost of Goods Manufactures + Beginning Finished Goods Inventory - Ending Finished Goods Inventory

Cost of Goods Sold = $129,800 + $22,500  - $21,000

Cost of Goods Sold = $131,300