i Secure 1 https/www.m Zach Fulle ACCT 222- Management Accounting - Summer 2018

Question

i Secure 1 https/www.m Zach Fulle ACCT 222- Management Accounting - Summer 2018 Test: Exam 1- Online Exam (not proctored) This Question: 5 pts 10 of 25 (9 complete) Lobs of Stuit Company reports tha tollowing dats for its irst year of operaion $455.00 Coet of goods manufactured Work in process invantory, beginning work process inver try, ending Direct materials used 140.90 110.800 185 300 Firished goods inventory, beginning Finished goods inventory. ending 90.400 What is the cost of goods sokd? O A $364 600 O B $455 000 O C $519 800 O 0. $751,100 Cix to setect your anwer O Type here to search

Explanation / Answer

Cost of goods sold = Cost of goods manufactured + Finished goods inventory, begining - Finished goods inventory, ending

= 455,000 + 0 - 90,400

= $364,600

Hence, correct option is (A)

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