Question

Rogers Products Company records show these amounts for the year: beginning inventory, January 1, $630,750; cost of goods produced during the year, \$1,682,900; ; ending inventory, December 31, \$673,580 . Find the cost of goods sold for the year.

Answer 1

Answer:

  $1,640,070

Step-by-step explanation:

Cost of goods sold = (starting inventory) +(production) -(ending inventory)

  = $630,750 +1,682,900 -673,580

  = $1,640,070

The cost of goods sold for the year was $1,640,070.