Answer:
1. Number of Jetskis sold = 93,600
2. cost of Jetskis sold = $205,920,000
Explanation:
First, let us lay out the information given clearly:
January 1 finished goods inventory = 6,800
December 31 finished goods inventory = 7,200
number of Jet skis manufactured = 94,000
1. Number of Jet skis sold:
let us calculate the total number of jetskis that were available throughout the year
Total number of Jet skis in stock during the year = number of Jet skis manufactured + January 1 finished goods inventory (beginning inventory)
Total number of Jet skis in stock during the year = 94,000 + 6,800
Total number of Jet skis in stock during the year = 100,800
Number of Jetskis sold = (Total number of Jet skis in stock during the year) - (December 31 finished goods inventory)
Number of Jetskis sold = 100,800 - 7,200 = 93,600
2. cost of good sold:
product cost of 1 Jetski = $2,200
Number of Jetskis sold = 93,600
∴ Cost of Jetskis sold last year = 93,600 × 2,200 = $205,920,000
