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What is the cost of ending inventory given the following factors?

What is the cost of ending inventory given the following factors?

Beginning inventory $5,000

Total production costs60,000

Cost of goods sold55,000

Direct labor40,000

A. $45000

B. $5000

C.$10000

D. $50000

 

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تاريخ النشر: 2015/02/13
VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
من قبل VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Opening Inventory +Additions during the year - cost of goods sold

Answer option (c)  >>>>>>>>> $10,000

Lesley Lanag CMA CPA
من قبل Lesley Lanag CMA CPA , Senior Accountant , Takaful Emarat Insurance (P.S.C)

C.  10,000 

 

Beg + manufacturing cost - cost of sales

Akhter Mehmood
من قبل Akhter Mehmood , Station Coordinator at Radio Dhamaal fm94 Sialkot , Global Entertainment Pvt Ltd

Opening + Manufacturing - Sold = Ending Inventory

5000=10000

Ans " C "

Naveed Iqbal
من قبل Naveed Iqbal , Senior Accountant , Hamdan AL Shamsi Lawyer & Legal Consultants

Beginning inventory= 10,000

+ Purchases  =           5,000

- Cost of sales=             7,000

Ending inventory           8,000

 

 

 

 

Muhammad Sajjad
من قبل Muhammad Sajjad , Chief Accountant , Hassan Kabbani Est. for Gen. Const. of Buildings (IKK Group of Companies)

Beginning inventory                    =   $5,000

Add:Total production costs       = $60,000

Less:Cost of goods sold           =$55,000

Closing Inventory                        = $10,000 as per option C

 

 

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