Question

Mustang Corporation has accumulated the following accounting data for the month of April: Finished goods inventory, April 1$32,400 Finished goods inventory, April 30 26,400 Total cost of goods manufactured 122,900 The cost of goods sold for the year is:

Answer 1

$128,900

Step-by-step explanation:

Cost of goods sold calculation

Opening Finished goods inventory $32,400

Add cost of goods manufactured $122,900

Less Closing Finished goods inventory ($26,400)

Cost of goods sold $128,900

therefore,

The cost of goods sold for the year is $128,900.