The beginning Finished Goods Inventory plus the cost of goods manufactured equals
A)ending finished goods inventory.
B)cost of goods sold for the period.
C)total work-in-process during the period.
D)total cost of goods manufactured for the perioD.
E)cost of goods available for sale for the period.

Question

Quizplus · Accepted Answer

The beginning Finished Goods Inventory represents the inventory of completed products that were not sold at the end of the previous period. The cost of goods manufactured represents the total cost of all products that were completed during the current period. Adding these two amounts together gives us the total cost of goods available for sale during the period. Therefore, the correct answer is E: cost of goods available for sale for the period.

The Beginning Finished Goods Inventory Plus the Cost of Goods