1)Coronado Industries reported the following year-end information: beginning work in process inventory, s82000: cost of goods manufactured, $760000: beginning finished goods inventory. Ss2000: ending work in process inventory, $72000; and ending finished goods inventory, $42000. How much is Coronado's cost of goods sold for the year? a) S760000 b) $750000 C) $770000 d) S780000

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.