Feeney Furniture prepared the following sales budget: Month Cash Sales Credit Sales March $19,000 $11,000 April $40,000 $11,000 May $43,000 $35,000 June $59,000 $50,000 Credit collections are 5% two months following the sale, 30% in the month
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Calculate the cost of goods sold when beginning finished goods inventory equals $70,000, ending finished goods inventory is $85,000, and cost of goods manufactured is $600,000. a. $615,000 b. $445,000 c. $685,000 d. $585,000
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