Last year there was no change in either the raw materials or the work in process beginning and ending inventories. However, finished goods, which had a beginning balance of $25,000, increased by $15,000. If the manufacturing costs incurred totaled $600,000 during the year, the cost of goods available for sale must have been:

cost of goods available for sale= $625,000

Explanation:

Giving the following information:

Finished goods beginning balance= $25,000

Total manufacturing costs= $600,000

To calculate the cost of goods available for sale, we need to use the following formula:

cost of goods available for sale= finished goods beginning balance + total manufacturing goods

cost of goods available for sale= 25,000 + 600,000

cost of goods available for sale= $625,000

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