Company Intel Showing your work use the income statement and

Company: Intel. Showing your work, use the income statement and inventory information from the footnote in the financial report to calculate the cost of finished goods manufactured for 2016.

Financial report: http://www.annualreports.com/HostedData/AnnualReports/PDF/NASDAQ_INTC_2016.pdf

Solution

Inventory finished goods 2016          1,668 Add cost of sales        23,196 Cost of finished goods available for sale        24,864 Less opening finished goods inventory          1,742 Cost of finished goods manufactured        23,122