During June, the Cost of Goods Manufactured Was £71,000

question 54

Multiple Choice

During June, the cost of goods manufactured was £71,000. The beginning finished goods inventory was £18,000 and the ending finished goods inventory was £11,000. What was the cost of goods sold for the month

• A)£64,000
• B)£100,000
• C)£71,000
• D)£78,000

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Definitions:

Economic Underdevelopment

A state where a country lags behind in economic progress compared to industrialized nations, marked by low GDP, lack of industrialization, and poor living standards.

Western Attributes

Characteristics or qualities that are typically associated with Western societies, including values, practices, and cultural norms.

Homogeneous

Describes a group, structure, or substance that has the same or similar elements uniformly distributed throughout.

Localized

Restricted or confined to a specific location or area.