Answer:
The cost of goods sold for the year is $130,700
Explanation:
Finished goods inventory, April 1$32,800
Finished goods inventory, April 30 26,800
Total cost of goods manufactured 124,700
Use the following formula to calculate the cost of goods sold
Cost of goods sold = Total cost of goods manufactured + Finished goods inventory, April 1 - Finished goods inventory, April 30
Where
Finished goods inventory, April 1 = $32,800
Finished goods inventory, April 30 = $26,800
Total cost of goods manufactured = $124,700
Placing values in the formula
Cost of goods sold = $124,700 + $32,800 - $26,800
Cost of goods sold = $130,700
