Damsel, Inc is a large manufacturer of auto tires
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
Calculate the amount of ending Finished Goods Inventory reported on Damsel's balance sheet.
A) $32,000
B) $71,000
C) $34,500
D) $6,500
Beginning Finished Goods Inventory $28,000
Add: Cost of Goods Manufactured 43,000
Cost of Goods Available for Sale 71,000
Less: Cost of Goods Sold 36,500
Ending Finished Goods Inventory $34,500
Answer is C
:)
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