Kingsley Manufacturing had the following inventory balances: • Beginning finished goods inventory (January 1, 2023): $48,000 . Ending finished goods (December 31, 2023): $66,000 inventory Cost of goods manufactured for FY 2023: $245,000 What is the cost of goods sold (COGS) for FY 2023?

Kingsley Manufacturing had the following inventory balances: • Beginning finished goods inventory (January 1, 2023): $48,000 . Ending finished goods (December 31, 2023): $66,000 inventory Cost of goods manufactured for FY 2023: $245,000 What is the cost of goods sold (COGS) for FY 2023?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 3RE: Refer to RE22-2. Assume the pretax cumulative effect adjustment is 50,000. Prepare the journal entry...

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Question

Please see an attachment for details general accounting question do fast

Kingsley Manufacturing had the following
inventory balances:
•
Beginning finished goods inventory
(January 1, 2023): $48,000
. Ending
finished goods
(December 31, 2023): $66,000
inventory
Cost of goods manufactured for FY 2023:
$245,000
What is the cost of goods sold (COGS) for FY
2023?

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