2)Sheridan Company has $21000 of ending finished goods inventory as of December 31, 2013. If beginning finished goods inventory was $15000 and cost of goods sold was S50000, how much would Sheridan report for cost of goods manufactured? a) $56000 b) $44000 C) S71000 d) S15000

2)Sheridan Company has $21000 of ending finished goods inventory as of December 31, 2013. If beginning finished goods inventory was $15000 and cost of goods sold was S50000, how much would Sheridan report for cost of goods manufactured? a) $56000 b) $44000 C) S71000 d) S15000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

2)Sheridan Company has $21000 of ending finished goods inventory as of December 31, 2013. If beginning
finished goods inventory was $15000 and cost of goods sold was $50000, how much would Sheridan
report for cost of goods manufactured?
a) $56000
b) $44000
C) S71000
d) $15000

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