Question

Damsel, Inc. is a large manufacturer of auto tires. Damsel has provided the following​ information:Sales Revenue​$75,000Beginning Finished Goods Inventory​28,000Cost of Goods Sold​36,500Cost of Goods Manufactured​43,000Calculate the amount of ending Finished Goods Inventory reported on​ Damsel's balance sheet.

Answer 1

Answer:

ending finished inventory= $34,500

Explanation:

Giving the following information:

Damsel has provided the following​ information:

Sales Revenue​$75,000

Beginning Finished Goods Inventory​28,000

Cost of Goods Sold​36,500

Cost of Goods Manufactured​43,000

Cost of goods sold= beginning finished inventory + cost of goods manufactured - ending finished inventory

ending finished inventory= beginning finished inventory + cost of goods manufactured - cost of goods sold

ending finished inventory= 28000 + 43000 - 36500= 34,500