Viva,Inc.has provided the following information for the year: $$\begin{array} { | l | r | }
\hline \text { Cost of Goods Manufactured } & \$ 1,261,000 \
\hline \text { Beginning Balance - Finished Goods Inventory } & 99,000 \
\hline \text { Ending Balance - Finished Goods Inventory } & 85,000 \
\hline
\end{array}$$ How much is the cost of goods sold?
A)$184,000
B)$1,275,000
C)$1,261,000
D)$1,247,000

Question

Viva,Inc.has provided the following information for the year: $$\begin{array} { | l | r | } 
\hline \text { Cost of Goods Manufactured } & \$ 1,261,000 \
\hline \text { Beginning Balance - Finished Goods Inventory } & 99,000 \
\hline \text { Ending Balance - Finished Goods Inventory } & 85,000 \
\hline
\end{array}$$ How much is the cost of goods sold?
A)$184,000
B)$1,275,000
C)$1,261,000
D)$1,247,000

Quizplus · Accepted Answer

The cost of goods sold is calculated as: Cost of Goods Manufactured + Beginning Finished Goods Inventory - Ending Finished Goods Inventory = $1,261,000 + $99,000 - $85,000 = $1,275,000.

Viva,IncHas Provided the Following Information for the Year How Much Is the Cost of Goods Sold? A)$184,000 B)$1,275,000

Viva,IncHas Provided the Following Information for the Year How Much Is the Cost of Goods Sold?
A)$184,000
B)$1,275,000