Viva,IncHas Provided the Following Information for the Year How Much Is the Cost of Goods Sold?
A)$184,000
B)$1,275,000

question 177

Multiple Choice

Viva,Inc.has provided the following information for the year: $$\begin{array} { | l | r | } \hline \text { Cost of Goods Manufactured } & \$ 1,261,000 \\\hline \text { Beginning Balance - Finished Goods Inventory } & 99,000 \\\hline \text { Ending Balance - Finished Goods Inventory } & 85,000 \\\hline\end{array}$$ How much is the cost of goods sold?

• A)$184,000
• B)$1,275,000
• C)$1,261,000
• D)$1,247,000

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Definitions:

Institutional Funds Act

A legislative framework governing the investment practices and financial management of funds held by educational, charitable, and other non-profit institutions.

Types Of Accounting

Various methodologies and practices for recording, analyzing, and managing financial transactions and statements.

Use-It-Or-Lose-It

A principle emphasizing that not using a skill or capacity may lead to its gradual deterioration over time.

Operating Budget

An operating budget consists of all revenues and expenses over a specific period of time (usually fiscal year) that an organization expects to incur to carry out its planned activities.