The cost of goods sold for Frye Manufacturing in the year was $297,000. The January 1 Finished Goods Inventory balance was $31,600, and the December 31 Finished Goods Inventory balance was $25,600. Calculate the cost of goods manufactured during the year.
A) $322,600
B) $57,200
C) $291,000
D) $6000
C) $291,000
Cost of goods manufactured = Cost of goods sold + Ending finished goods inventory -
Beginning finished goods inventory = $297,000 + $25,600 - $31,600 = $291,000
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