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The following information is from ABC Company's general ledger for the month of September: Beginning and ending finished goods inventory, respectively, were 61,600 and 56,000. Cost of goods sold for September was $144,000. Required: How much was ABC Company's cost of goods manufactured in September? 2 Cost of goods manufactured

The following information is from ABC Company's general ledger for the month of September: Beginning and ending finished goods inventory, respectively, were 61,600 and 56,000. Cost of goods sold for September was $144,000. Required: How much was ABC Company's cost of goods manufactured in September? 2 Cost of goods manufactured

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### Cost of Goods Manufactured Calculation **Information Provided:** From ABC Company's general ledger for the month of September: - **Beginning Finished Goods Inventory:** $61,600 - **Ending Finished Goods Inventory:** $56,000 - **Cost of Goods Sold for September:** $144,000 **Required:** Determine the cost of goods manufactured by ABC Company for the month of September. #### Formula to Use: \[ \text{Cost of goods sold} = \text{Beginning finished goods inventory} + \text{Cost of goods manufactured} - \text{Ending finished goods inventory} \] #### Steps: 1. Start with the cost of goods sold for September, which is $144,000. 2. Add the ending finished goods inventory: $144,000 + $56,000 = $200,000. 3. Subtract the beginning finished goods inventory from the total: $200,000 - $61,600 = $138,400. Thus, the cost of goods manufactured for September is calculated to be **$138,400**. #### Output Box: Below the calculation is a highlight box visually indicating where the answer should be placed: - **Cost of goods manufactured:** `__138,400__`
Transcribed Image Text:### Cost of Goods Manufactured Calculation **Information Provided:** From ABC Company's general ledger for the month of September: - **Beginning Finished Goods Inventory:** $61,600 - **Ending Finished Goods Inventory:** $56,000 - **Cost of Goods Sold for September:** $144,000 **Required:** Determine the cost of goods manufactured by ABC Company for the month of September. #### Formula to Use: \[ \text{Cost of goods sold} = \text{Beginning finished goods inventory} + \text{Cost of goods manufactured} - \text{Ending finished goods inventory} \] #### Steps: 1. Start with the cost of goods sold for September, which is $144,000. 2. Add the ending finished goods inventory: $144,000 + $56,000 = $200,000. 3. Subtract the beginning finished goods inventory from the total: $200,000 - $61,600 = $138,400. Thus, the cost of goods manufactured for September is calculated to be **$138,400**. #### Output Box: Below the calculation is a highlight box visually indicating where the answer should be placed: - **Cost of goods manufactured:** `__138,400__`
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