For each of the following independent cases A to D, compute the missing values: Note: Enter all amounts as positive values. Required: Case A B C D Cost of Goods Manufactured $ 3,190 4,180 10,950 Beginning Finished Goods Inventory $ Ending Finished Goods Inventory 590 $ 870 2,270 280 1,340 560 Cost of Goods Sold 4,580 4,515 9,750

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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.