Cost of Goods Sold Pine Creek Company completed 200,000 units during the year at a cost...
Cost of Goods Sold Pine Creek Company completed 200,000 units during the year at a cost of $3,000,000. The beginning finished goods inventory was 25,000 units at $310,000. Determine the cost of goods sold for 210,000 units, assuming a FIFO cost flow. $
Homework Answers
Calculation of cost of goods sold
Beginning Inventory (25000 units) = $310000
Purchased inventory (185000 units) ($3000000*185000/200000) = $2775000
Total= $310000+$2775000= $3085000
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