### 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__`

The cost of goods manufactured is the sum of the total costs incurred by a company during a specific…

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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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