Question

A manufacturing company has a beginning finished goods inventory of $15,400, raw material purchases of $18,800, cost of goods manufactured of $34,100, and an ending finished goods inventory of $18,600. The cost of goods sold for this company is:

Answer 1

Answer:

$30,900

Explanation:

The beginning finished goods is $15,400

Raw materials purchased is $18,800

The cost of goods manufactured is $34,100

Ending finished goods is $18,600

Therefore the cost of gods can be calculated as follows

= 15,400+34,100-18,600

= 49,500-18,600

= 30,900

Hence the cost of goods sold by the company is $30,900