fieldman corp. obtained the following information from its accounting records: sales $35,000 beginning finished goods inventory $12,000 ending finished goods inventory $9,000 cost of goods sold $20,000 the cost of goods manufactured this period equals:

Respuesta :

The cost of the commodities produced over this time period is $17,000.

The entire manufacturing expenses for items that are completed during a certain accounting period are the cost of goods manufactured. These expenses cover the direct labor, direct materials, and manufacturing overhead for the goods that are moved from the production line to the completed goods stock.

Finished goods, beginning inventory = $12,000

Less Finished goods, ending inventory = $9,000

Cost of goods sold = $20,000

Cost of Products Offered for Sale = Expense for Goods Sold + Finished Goods Inventory Closing

= $20,000 + $9,000

= $29,000

Cost of Producing Goods = Price of Goods Available for Sale - Initial Inventory of Finished Goods

= $29,000 - $12,000

= $17,000

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