General accounting Pinnacle Manufacturing company has a beginning finished goods inventory of $24,500, costof goods manufactured of $63,700, and an ending finished goods inventory of $21,800. Thecost of goods sold for this company is:A. $60,400B. $66,000C. $61,000D. $66,400

Step 1: Definition of Cost of Goods Sold (COGS) Cost of Goods Sold (COGS) refers to the direct costs…

Answered: Pinnacle Manufacturing company has a…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...

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The following information is included below for Golden Gadgets: Raw Materials Inventory $7,500, COGS(Product) $42,140, Depreciation $11,253, Work-in-Process inventory $13,489, Cash $19,710, Revenues (Product) $105,328, SG&A $6,840, Finished Goods Inventory $18,190, Accounts Receivable $7,140. Compute the Gross Margin for Golden Gadgets

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Pinnacle Manufacturing company has a beginning finished goods inventory of $24,500, cost of goods manufactured of $63,700, and an ending finished goods inventory of $21,800. The cost of goods sold for this company is: A. $60,400 B. $66,000 C. $61,000 D. $66,400