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Julli [10]
3 years ago
5

using the following data for july, calculate the cost of goods manufactured: beginning finished goods inventory 150,475. Ending

finished goods inventory 145,750. sales 400,000. Gross Margin 120,000. The cost of goods manufactured was
Engineering
1 answer:
Alla [95]3 years ago
5 0

Answer:

The correct response is "$275,275".

Explanation:

The given values are:

Sales,

= 400,000

Gross margin,

= 120,000

Beginning Inventory goods,

= 150,475

Finished inventory goods,

= 145,750

Now,

The cost of goods sold will be:

= Sales-Gross \ margin

On substituting the values, we get

= 400,000-120,000

= 280,000

As we know,

⇒ Cost \ of \ goods \ sold=Beginning \ inventory \ goods+ cost \ of \ goods \  manufactured-Ending \ inventory \ goods

⇒ 280,000=150,475+ cost \ of \ goods \ manufactured-145750

⇒ 280,000=cost \ of \ goods \ manufactured+4,725

⇒ Cost \ of \ goods \ manufactured=280,000-4,725

⇒                                                 =275,275 ($)

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