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"The manufacturing operations of Bryant, Inc. had the following balances for the month of January:

Inventories January 1 January 31
Raw materials $12,000 $13,000
Work in process 21,000 23,000
Finished goods 14,000 16,000

Bryant transferred $290,000 of completed goods out of work in process during January.

Compute the cost of goods sold.

a. $293,000
b. $270,000
c. $268,000
d. $272,000

Respuesta :

facundobuzzetti

Answer:

COGS= $288,000

Explanation:

Giving the following information:

Inventories January 1 January 31

Finished goods 14,000 16,000

Bryant transferred $290,000 of completed goods out of work in the process during January.

To calculate the cost of goods sold, we need to use the following formula:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 14,000 + 290,000 - 16,000

COGS= 288,000

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