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pederson company reported the​ following: manufacturing costs ​$360,000 units manufactured ​9,000 units sold ​7,500 units sold for​ $90 per unit beginning inventory ​1,000 units what is the manufacturing cost for the ending finished goods​ inventory

Sagot :

The manufacturing cost for the ending finished goods​ inventory will be $100,000.

What is Finished Goods Inventory?

Finished goods are items that have been manufactured or purchased in a finished state but have not yet been distributed to customers. Merchandise refers to the items that have been purchased and are listed on a completed form. Formally, finished products inventory refers to the whole amount of stock that is offered for sale to customers. Additionally, finished goods inventory describes any manufacturer's stock that is kept in a ready-to-sell state. All of the items that have been produced and manufactured are included in this inventory.

Inventory costs for finished goods are considered of as short-term assets. These products are expected to be sold in a short period of time, often less than a year. Therefore, finished goods inventory is an asset type of account in accounting records.

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