Answer:
COGS= $251,700
Explanation:
Giving the following formula:
Beginning Finished Goods Inventory 73,700
Ending Finished Goods Inventory 69,700
Cost of Goods Manufactured for the period 247,700
<u>To calculate the cost of goods sold, we need to use the following formula:</u>
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 73,700 + 247,700 - 69,700
COGS= $251,700