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a manufacturing company has a beginning finished goods inventory of $28,100, cost of goods manufactured of $58,300, and an ending finished goods inventory of $27,400. the cost of goods sold for this company is:

Answer :

The cost of goods sold for this company is $59000

COGS: The direct cost of producing the commodities that your company sells is known as the cost of goods sold (COGS). COGS contains the cost of materials and labour directly associated with the manufacture and manufacturing of retail products. It is also known as "cost of sales" or "COGS report." Indirect expenses like marketing and distribution expenditures are not included in COGS.

Beginning finished goods inventory = $28100

Cost of goods manufactured = $58300

Ending finished goods inventory = $27400

The cost of goods sold by this company is given by the formula:

Beginning Finished Goods + Cost of Goods Manufactured − Ending Finished Goods = Cost of Goods Sold

Substituting the values in the formula to get the cost of goods sold:

= $28,100 + $58,300 − $27,400 = $59,000.

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