Ask Question
7 June, 07:27

The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:

Beginning Raw Materials $ 30,300

Ending Raw Materials 70,300

Beginning Work in Process Inventory 40,300

Ending Work in Process Inventory 46,300

Beginning Finished Goods Inventory 72,300

Ending Finished Goods Inventory 68,300

Cost of Goods Manufactured for the period 246,300

A. $246,300.

B. $250,300.

C. $258,300.

D. $242,300.

E. $290,300.

+3
Answers (1)
  1. 7 June, 07:37
    0
    B. $250,300.

    Explanation:

    We are asked to solve forthe amoung of cost of goods sold.

    we add up the beginning FG and the manufactured goods

    then we subtract the ending FG which represent the unsold amount

    Cost Of Goods Sold

    beginning Finished Goods 72,300

    Cost Of Goods Manufactured 246,300

    Total goods available for sale 318,600

    ending FG - 68,300

    Cost Of Goods Sold 250300
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period: Beginning Raw Materials $ ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers