Waterway Industries has $30000 of ending finished goods inventory as of December 31, 2013. If beginning...

Waterway Industries has $30000 of ending finished goods inventory as of December 31, 2013. If beginning finished goods inventory was $25000 and cost of goods sold was $60000, how much would Waterway report for cost of goods manufactured?

Expert Solution

cost of goods sold=cost of goods manufactured+beginning finished goods inventory-ending finished goods inventory

cost of goods manufactured=(60,000+30,000-25000)

=$65,000.

ekkarill92 answered 2 years ago

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