Question

All Rite Manufacturing reported the following: Revenue$460,000Beginning inventory of direct materials, January 1, 201526,000Purchases of direct...

All Rite Manufacturing reported the following:

Revenue$460,000Beginning inventory of direct materials, January 1, 201526,000Purchases of direct materials156,000Ending inventory of direct materials, December 31, 201514,000Direct manufacturing labor30,000Indirect manufacturing costs41,000Beginning inventory of finished goods, January 1, 201546,000Cost of goods manufactured239,000Ending inventory of finished goods, December 31, 201545,000Operating costs150,000What is Leslie's cost of goods sold?

Select one:

A. $240,000

B. $390,000

C. $239,000

D. $389,000

Business   Accounting   
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Answer #1
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All Rite Manufacturing Amount $
Finished Goods Inventory, Beginning      46,000.00
Add: Cost of goods manufactured 239,000.00
Cost of finished goods available for sale 285,000.00
Less: Finished Goods Inventory, Ending      45,000.00
Cost of goods sold 240,000.00
So answer is option A.
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