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Midwest Corp. obtained the following information from its accounting records:
Sales
$70,000
Beginning Finished Goods Inventory
$42,000
Ending Finished Goods Inventory
$46,000
Cost of Goods Sold
$40,000
Ending Work-in-Process Inventory
$30,000
Calculate the Cost of Goods Manufactured for the period.
Sales $70,000
Beginning Finished Goods Inventory $42,000
Ending Finished Goods Inventory $46,000
Cost of Goods Sold $40,000
Ending Work-in-Process Inventory $30,000
Solution
Cost of Goods Sold =Beginning Inventory + Inventory Purchases/Manufactured
Midwest Corp- obtained the following information from its accounting r.docx

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Midwest Corp- obtained the following information from its accounting r.docx

  • 1. Midwest Corp. obtained the following information from its accounting records: Sales $70,000 Beginning Finished Goods Inventory $42,000 Ending Finished Goods Inventory $46,000 Cost of Goods Sold $40,000 Ending Work-in-Process Inventory $30,000 Calculate the Cost of Goods Manufactured for the period. Sales $70,000 Beginning Finished Goods Inventory $42,000 Ending Finished Goods Inventory $46,000 Cost of Goods Sold $40,000 Ending Work-in-Process Inventory $30,000 Solution Cost of Goods Sold =Beginning Inventory + Inventory Purchases/Manufactured