Quality Products Inc. has a beginning finished goods inventory of $22,400, raw material purchases of $35,800, cost of goods manufactured of $68,500, and an ending finished goods inventory of $18,900. The cost of goods sold for this company is: A. $72,000 B. $68,500 C. $53,800 D. $40,000

Quality Products Inc. has a beginning finished goods inventory of $22,400, raw material purchases of $35,800, cost of goods manufactured of $68,500, and an ending finished goods inventory of $18,900. The cost of goods sold for this company is: A. $72,000 B. $68,500 C. $53,800 D. $40,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter2: Basic Managerial Accounting Concepts

Section: Chapter Questions

Problem 58P: Cost of Goods Manufactured, Income Statement W. W. Phillips Company produced 4,000 leather recliners...

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Quick answer of this accounting questions

Quality Products Inc. has a beginning finished goods inventory of
$22,400, raw material purchases of $35,800, cost of goods
manufactured of $68,500, and an ending finished goods inventory of
$18,900. The cost of goods sold for this company is:
A. $72,000
B. $68,500
C. $53,800
D. $40,000

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