Dorsett Technologies had finished goods inventory on January 1, 20X8 of $29,500 and finished goods inventory on December 31, 20X8, of $24,300. If the cost of goods sold during the year was $428,000, what Was the cost of goods manufactured during the year? A. $402,400 B. $422,800 C. $417,600 D. $428,000 E. None of the answers are correct

Dorsett Technologies had finished goods inventory on January 1, 20X8 of $29,500 and finished goods inventory on December 31, 20X8, of $24,300. If the cost of goods sold during the year was $428,000, what Was the cost of goods manufactured during the year? A. $402,400 B. $422,800 C. $417,600 D. $428,000 E. None of the answers are correct

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 2TP: Assume your company uses the periodic inventory costing method, and the inventory count left out an...

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Similar questions

Assume your company uses the periodic inventory costing method, and the inventory count left out an entire warehouse of goods that were in stock at the end of the year, with a cost value of $222,000. How will this affect your net income in the current year? How will it affect next years net income?
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