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The following information pertains to the Ruby Corp: $74,000 f 82,000 Beginning work-in-process inventory Ending work-in-process inventory Beginning finished goods inventory Ending finished goods...

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The following information pertains to the Ruby Corp: $74,000 f 82,000 Beginning work-in-process inventory Ending work-in-process inventory Beginning finished goods inventory Ending finished goods inventory Total manufacturing costs 172,000 209,000 1,202,000 What is cost of goods sold? Select one: O A. $1,210,000 O B. $1,165,000 O C.$1,157,000 O D. $1,239,000
Answered 2 days After Dec 11, 2021

Solution

Komalavalli answered on Dec 13 2021
125 Votes
Cost of goods sold:
Beginning work-in-process inventory : $74,000
Ending work-in-process inventory : $82,000
Beginning finished goods : 172,000
Ending finished goods inventory : 209,000
Total manufacturing costs : 1,202,000
Cost of goods sold = Starting inventory + purchases − ending...
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