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Case I Case II Case III Beginning inventory of finished goods $12,000 $9,000 Cost of goods...

Case I Case II Case III
Beginning inventory of finished goods $12,000 $9,000
Cost of goods manufactured during period 414,000 87,000
Ending inventory of finished goods 97,000 8,000 23,000
Cost of goods sold $406,000 $311,000
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Answer #1
Beginning inventory 89,000 12,000 9,000
Goods manufactured 414,000 87,000 325,000
Ending inventory 97,000 8,000 23,000
Cost of Goods Sold 406,000 91,000 311,000

Cost of Goods Sold = Beginning inventory + Cost of Goods manufactured - Ending inventory

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