5 nts 00:49:05 ferences: TB MC Qu. 14-114 (Algo) Mustang Corporation reports the following... Mustang Corporation reports the following for the month of April: Finished goods inventory, April 1 Finished goods inventory, April 30 Total cost of goods manufactured The cost of goods sold for April is: Multiple Choice O $118,700. $179,900. $65,100. $130,700, $ 32,800 26,800 124,700

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.