Viva,Inc.has provided the following information for the year: $$\begin{array} { | l | r | }
\hline \text { Cost of Goods Manufactured } & \$ 1,293,000 \
\hline \text { Beginning Balance - Finished Goods Inventory } & 98,000 \
\hline \text { Ending Balance - Finished Goods Inventory } & 80,000 \
\hline
\end{array}$$ How much is the cost of goods sold?
A) $178,000
B) $1,311,000
C) $1,293,000
D) $1,275,000

Question

Viva,Inc.has provided the following information for the year: $$\begin{array} { | l | r | } 
\hline \text { Cost of Goods Manufactured } & \$ 1,293,000 \
\hline \text { Beginning Balance - Finished Goods Inventory } & 98,000 \
\hline \text { Ending Balance - Finished Goods Inventory } & 80,000 \
\hline
\end{array}$$ How much is the cost of goods sold?
A) $178,000
B) $1,311,000
C) $1,293,000
D) $1,275,000

Quizplus · Accepted Answer

Cost of Goods Sold = Cost of Goods Manufactured + Beginning Finished Goods Inventory - Ending Finished Goods Inventory= 1,293,000 + 98,000 - 80,000= $1,311,000

Viva,IncHas Provided the Following Information for the Year How Much Is the Cost of Goods Sold? A) $178,000

Viva,IncHas Provided the Following Information for the Year How Much Is the Cost of Goods Sold?
A) $178,000