Question

A manufacturing company has a beginning finished goods inventory of $28,300, cost of goods manufactured of $58,500, and an ending finished goods inventory of $27,600. The cost of goods sold for this company is

Answer 1

the cost of goods sold is $59,200

Step-by-step explanation:

The computation of the cost of goods sold is shown below:

Cost of goods sold = Beginning finished goods inventory + cost of goods manufactured - ending finished goods inventory

= $28,300 + $58,500 - $27,600

= $59,200

Hence, the cost of goods sold is $59,200