Answer:
COGS= $250,000
Explanation:
Giving the following information:
Beginning Finished Goods Inventory $72,000
Ending Finished Goods Inventory $68,000
Cost of Goods Manufactured for the period $246,000
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 72,000 + 246,000 - 68,000
COGS= $250,000
