Gluth Corporation Has Provided the Following Data for the Month

question 100

Multiple Choice

Gluth Corporation has provided the following data for the month of July. The beginning balance in the finished goods inventory account was $56,000 and the ending balance was $49,000. Sales totaled $290,000. Cost of goods manufactured was $147,000, selling expense was $17,000, and administrative expense was $68,000.
-The cost of goods sold for July was:

• A) $232,000
• B) $140,000
• C) $154,000
• D) $147,000

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