Damsel, Inc. is a large manufacturer of auto tires. Damsel has provided the following information:Sales Revenue $75,000Beginning Finished Goods Inventory 28,000Cost of Goods Sold 36,500Cost of Goods Manufactured 43,000Calculate the amount of ending Finished Goods Inventory reported on Damsel's balance sheet.

Question

Cordell Wilkerson

Business

9 January, 20:43

Damsel, Inc. is a large manufacturer of auto tires. Damsel has provided the following information:Sales Revenue $75,000Beginning Finished Goods Inventory 28,000Cost of Goods Sold 36,500Cost of Goods Manufactured 43,000Calculate the amount of ending Finished Goods Inventory reported on Damsel's balance sheet.

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Johanna Castaneda · Answer 1

ending finished inventory = $34,500

Explanation:

Giving the following information:

Damsel has provided the following information:

Sales Revenue $75,000

Beginning Finished Goods Inventory 28,000

Cost of Goods Sold 36,500

Cost of Goods Manufactured 43,000

Cost of goods sold = beginning finished inventory + cost of goods manufactured - ending finished inventory

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

ending finished inventory = 28000 + 43000 - 36500 = 34,500