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Frederick Company's January 1, 2018 finished goods inventory was $52,000. The January 1, 2019 finished goods inventory is $78,000. The cost of goods manufactured for the FY 2018 was $259,000. Use this information to determine the dollar amount of the FY 2018 cost of goods sold.

Frederick Company's January 1, 2018 finished goods inventory was $52,000. The January 1, 2019 finished goods inventory is $78,000. The cost of goods manufactured for the FY 2018 was $259,000. Use this information to determine the dollar amount of the FY 2018 cost of goods sold.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 3PA: Trini Company had the following transactions for the month. Calculate the cost of goods sold dollar...
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Frederick Company's January 1, 2018 finished goods inventory was $52,000. The January 1, 2019 finished goods inventory is $78,000. The cost of goods manufactured for the FY 2018 was $259,000. Use this information to determine the dollar amount of the FY 2018 cost of goods sold.
Transcribed Image Text:Frederick Company's January 1, 2018 finished goods inventory was $52,000. The January 1, 2019 finished goods inventory is $78,000. The cost of goods manufactured for the FY 2018 was $259,000. Use this information to determine the dollar amount of the FY 2018 cost of goods sold.
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