The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period:Beginning Finished Goods Inventory $19,500Ending Finished Goods Inventory$18,000Cost of Goods Manufactured $126,800A. $126,800. B. $125,300. C. $146,300. D. $128,300. E. $164,300.

Question

Vivian

Business

5 November, 14:27

The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period:Beginning Finished Goods Inventory $19,500Ending Finished Goods Inventory$18,000Cost of Goods Manufactured $126,800A. $126,800. B. $125,300. C. $146,300. D. $128,300. E. $164,300.

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Answers (1)

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Fleming · Answer 1

The correct answer is D.

Explanation:

Giving the following information:

Beginning Finished Goods Inventory $19,500

Ending Finished Goods Inventory$18,000

Cost of Goods Manufactured $126,800

To calculate the cost of goods sold we need to use the following formula:

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

COGS = 19,500 + 126,800 - 18,000 = $128,300