The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:
A) $250,000.
B) $290,000.
C) $242,000.
D) $258,000.
E) $246,000.
A) $250,000.
Explanation: Cost of Goods Sold = Beginning Finished Goods Inventory + Cost of Goods
Manufactured - Ending Finished Goods Inventory
Cost of Goods Sold = $72,000 + $246,000 - $68,000 = $250,000
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