Using the information below, calculate the cost of goods manufactured for the period:


Beginning Raw Materials Inventory	$	26,000
Ending Raw Materials Inventory		31,000
Beginning Work in Process Inventory		56,000
Ending Work in Process Inventory		65,000
Beginning Finished Goods Inventory		81,500
Ending Finished Goods Inventory		68,000
Cost of Goods Sold for the period		541,000
Sales revenues for the period		1,255,000
Operating expenses for the period		233,000

Expert Solution

Cost of goods manufactured will be calculated as follows:

Cost of goods sold for the period	541000
Add: Ending finished goods inventory	68000
Total	609000
Less: Beginning finished goods inventory	81500
Cost of goods manufactured for the period	527500

Thus, cost of goods manufactured for the period is $527,500.

ekkarill92 answered 2 years ago

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