The following inventory balances have been provided for the most recent year: The cost of goods manufactured was $714,000. What was the cost of goods sold? Select one: a. $738,000 b. $693,000 c. $714,000 d. $733,000

a. $738,000

Explanation:

Calculation for the cost of goods sold

Beginning Finished goods inventory $57,000

Add: Cost of goods manufactured $714,000

Goods available for sale $771,000

($714,000+$57,000)

Less Ending Finished goods inventory $33,000

Cost of goods sold $738,000

($771,000-$33,000)

Therefore the cost of goods sold will be $738,000

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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answer; societal marketing;