What is the cost of goods sold? DuringtheManufacturing'syear,cost ofPremiergoodsmanufactured is $925,000. Beginningof the year finished goods inventory is$175,000 and end of the year finishedgoods inventory is $210,000. What is thecost of goods sold?

Definition of Cost of Goods Manufactured (COGM):Cost of Goods Manufactured represents the total cost…

Answered: During the Manufacturing's year, cost…

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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Depot manufacturing has $31,500 ofending finished goods inventory as of Dec. 31, 2021. If beginning finished goods inventory was $27,800 and COGS was $94,300, how much would Depot reportfor cost of goods manufactured?
From the following data, determine the total Cost of Goods Manufactured (COGM): Costs of units in beginning Work-in-Progress (WIP) Inventory $78500.00Costs added to units in beginning WIP Inventory this period 19500.00Costs of units started and completed 153000.00Cost of units started and incomplete 57500.00 Cost of units in ending WIP inventory 57500.00 A. $269500.00 B. $251000.00 C. $268000.00D. $308500.00
Oriole Company had the following information at December 31: Finished goods inventory, January 1 $ 70000 Finished goods inventory, December 31 90000 If the cost of goods manufactured during the year amounted to $2200000 and annual sales were $2750000, the amount of gross profit for the year is $550000. $2180000. $570000. $530000.
If the cost of goods sold is $100,000 and the ending finished goods inventory is$30,000 higher than the beginning finished goods inventory, what must be the amountof the cost of goods manufactured?a. $30,000b. $100,000c. $130,000d. $70,000
1)Coronado Industries reported the following year-end information: beginning work in process inventory, $82000; cost of goods manufactured, $760000; beginning finished goods inventory, $52000; ending work in process inventory, S72000; and ending finished goods inventory, $42000. How much is Coronado's cost of goods sold for the year? a) $760000 b) S750000 c) S770000 d) $780000

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During the Manufacturing's year, cost of Premier goods manufactured is $925,000. Beginning of the year finished goods inventory is $175,000 and end of the year finished goods inventory is $210,000. What is the cost of goods sold?