The budgeted finished goods inventory and cost of goods sold for a manufacturing company for the year are as follows: January 1 finished goods, $765,000; December 31 finished goods, $640,000; and cost of goods sold, $2,560,000. The budgeted costs of goods manufactured is

$2,435,000

$2,560,000

$1,405,000

$3,965,000

$2,435, 000

Explanation:

The Cost of goods sold represents the value of all the goods that were sold to customers in a particular year.

calculating the Cost of goods sold  the formula

COGS = beginning inventory+ purchases - ending inventory

In this case

Beginning inventory is $765,000

Ending inventory is $640,000

COGS is $2,560,000

$2,560,000 = $ 765,000 + P - 640,00

$2560,000 = $125,000 +P

P= $2,560,000- $125,000

P=$2,435, 000

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