eBook Cost of Goods Sold Allyson Ashley makes jet skis. During the year, Allyson

Question

eBook Cost of Goods Sold Allyson Ashley makes jet skis. During the year, Allyson manufactured 77,000 jet skis. Finizhed goods inventory had the following units January 1 Dacamber 31 Required: 1. How many jet skis did Allyson sell during the year? 9,240 10,164 units 2. If each jet s ki had a product cost of $3,600, what was the cost of goods sold last year? eedbsck 1. Determine units sold by starting with beginning units in finished goods inventory, add units completed and subtract units remaining in ending inventory for the number of units sold 2. Multiply the product coat by the numbar of units sold. Previous Next All work saved save and Exit submit Assigniment for Erading 01,e EN

Explanation / Answer

Answer:

1)

Units Sold

= Beginning Inventory + Production - Ending Inventory

Units Sold = 9240+77,000-10164

Units Sold =76076

Units sold =76,076 units

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2)

Cost of goods sold

=Number if units sold x product cost

=76,076 x $3,600

=$273,873,600

Cost of goods sold=$273,873,600

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