The Cost of Goods Sold for Frye Manufacturing in 2012

question 112

Multiple Choice

The cost of goods sold for Frye Manufacturing in 2012 was $233,000. The January 1, 2012 finished goods inventory balance was $31,600, and the December 31, 2012 finished goods inventory balance was $24,200. What was cost of goods manufactured during 2012?

• A) $288,800
• B) $233,000
• C) $225,600
• D) $240,400

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Definitions:

Group Size

The total number of members or observations contained within a defined group or sample.

Degrees Of Freedom

A value, which is different for different statistical tests, that approximates the sample size or number of individual cells in an experimental design.

Degrees Of Freedom

The number of independent pieces of information upon which a statistical estimate is based, minus the number of parameters estimated.

Degree Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution, often related to the number of observations in a sample minus the number of parameters being estimated.