Question

Job 243 $5,750 Job 244 $4,980 Job 245 $3,675 Job 246 $4,250 Job 247 $5,100 Job 248 $3,800 Jobs 243 and 244 were in finished goods inventory at the beginning of the month. Jobs 245 and 246 were in work in process at the beginning of the month. Jobs 247 and 248 were started during the month. At the end of the month, Jobs 243 and 244 were sent to customers; Jobs 245, 247, and 248 were completed and sent to finished goods. What is the cost of goods sold for the month

Answer 1

The cost of goods sold for the month is:

= $10,730.

Step-by-step explanation:

a) Data and Calculations:

Finished goods inventory at the beginning of the month:

Job 243 $5,750

Job 244 $4,980

Work in process inventory at the beginning of the month:

Job 245 $3,675

Job 246 $4,250

Jobs started during the month:

Job 247 $5,100

Job 248 $3,800

Cost of goods sold:

Job 243 $5,750

Job 244 $4,980

Total $10,730

Finished Goods inventory ending balance:

Job 245 $3,675

Job 247 $5,100

Job 248 $3,800

Work in Process inventory ending balance:

Job 246 $4,250