The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:
Beginning Raw Materials $ 30,300
Ending Raw Materials 70,300
Beginning Work in Process Inventory 40,300
Ending Work in Process Inventory 46,300
Beginning Finished Goods Inventory 72,300
Ending Finished Goods Inventory 68,300
Cost of Goods Manufactured for the period 246,300

A. $246,300.
B. $250,300.
C. $258,300.
D. $242,300.
E. $290,300.

B. $250,300.

Explanation:

We are asked to solve forthe amoung of cost of goods sold.

we add up the beginning FG and the manufactured goods

then we subtract the ending FG which represent the unsold amount

Cost Of Goods Sold

beginning Finished Goods           72,300

Cost Of Goods Manufactured 246,300

Total goods available for sale       318,600

ending FG                                 -68,300

Cost Of Goods Sold           250300

$204,300

Explanation:

Cost of goods sold = Begining Finished Good Inventory + Cost of Goods Manufactured - Ending Finished Good Inventory

= 72,300 + 246,300 - 68,300

= $250,300

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