Dorsett Technologies had finished goods inventory on January 1, 20X8 of $30,700 and finished goods inventory...
Dorsett Technologies had finished goods inventory on January 1, 20X8 of $30,700 and finished goods inventory on December 31, 20X8 of $25,500. If the cost of goods manufactured for the year was $399,000, what was the cost of goods sold for the year?
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$409,400.
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$399,000.
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$404,200.
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$414,600.
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None of the answers is correct.
Homework Answers
C. $404,200
Cost of Goods sold = Cost of Goods manufactured + Change in Finished goods balances = $399,000 + ($30,700 – $25,500) = $404,200
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