Question

The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period:

Beginning Finished Goods Inventory $ 22,500
Ending Finished Goods Inventory 21,000
Cost of Goods Manufactured 129,800
Multiple Choice

a.$128,300.
b.$131,300.
c.$173,300.
d.$129,800.
e.$152,300.

Answer 1

b.$131,300.

Step-by-step explanation:

Cost of Goods Manufactures = $129,800

Beginning Finished Goods Inventory = $22,500

Ending Finished Goods Inventory = $21,000

Cost of Goods Sold = Cost of Goods Manufactures + Beginning Finished Goods Inventory - Ending Finished Goods Inventory

Cost of Goods Sold = $129,800 + $22,500 - $21,000

Cost of Goods Sold = $131,300