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tino4ka555 [31]
3 years ago
13

Franklin Manufacturing provided the following information for the month ended March​ 31: Sales Revenue $ 15 comma 000 Beginning

Finished Goods Inventory 14 comma 000 Ending Finished Goods Inventory 14 comma 500 Cost of Goods Manufactured 17 comma 600 Compute cost of goods sold. A. $ 32 comma 100 B. $ 17 comma 100 C. $ 17 comma 600 D. $ 18 comma 100
Business
1 answer:
klasskru [66]3 years ago
7 0

Answer:

B. $ 17 comma 100

Explanation:

The movements in inventory account is usually as a result of purchases, sales, returns etc. These are the factors that bring about a difference between the opening and closing balances in the inventory account.

Given that

Beginning Finished Goods Inventory = $14000

Ending Finished Goods Inventory = $14500

Cost of Goods Manufactured = $17600

Sales revenue = $15000

Let the cost of goods sold be B

$14000 + $17600 - B = $14500

B = $14000 + $17600 - $14500

B = $17100

The cost of goods sold is $17100

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