Bonita Industries has $26000 of ending finished goods inventory as of December 31, 2019. If beginning...

Bonita Industries has $26000 of ending finished goods inventory as of December 31, 2019. If beginning finished goods inventory was $20000 and cost of goods sold was $55000, how much would Bonita report for cost of goods manufactured?

$81000

$61000

$20000

$49000

Expert Solution

cost of goods sold=Beginning finished goods inventory+cost of goods manufactured-Ending finished goods inventory

55,000=20,000+cost of goods manufactured-26,000

cost of goods manufactured=55,000+26,000-20,000

=$61,000

ekkarill92 answered 2 years ago

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