Answer:
COGS= $2,129,700
Step-by-step explanation:
Giving the following information:
Finished goods inventory:
Beginning= $190,000
Ending= $150,000
Cost of goods manufactured= $2,089,700
The cost of goods sold is calculated using the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 190,000 + 2,089,700 - 150,000
COGS= $2,129,700