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

question 37

Multiple Choice

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

Contingent Liabilities

Potential obligations that may arise in the future due to past events, the occurrence and amount of which are uncertain.