Sheffield Corp has 13000 of ending finished goods inventory

Sheffield Corp. has $13000 of ending finished goods inventory as of December 31, 2013. If beginning finished goods inventory was $8000 and cost of goods sold was $43000, how much would Sheffield report for cost of goods manufactured?

Solution

Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Amount ending finished goods inventory               13,000.00 cost of goods sold               43,000.00 Cost of goods available for sale               56,000.00 Less beginning finished goods inventory               (8,000.00) cost of goods manufactured               48,000.00