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Determine the cost of goods sold last year


Response to the following problem:

Allyson Ashley makes jet skis. During the year, Allyson manufactured 54,000 jet skis. Finished goods inventory had the following units:

January 1 ................2, 100

December 31 ............2, 750

Required:

1. How many jet skis did Allyson sell during the year?

2. If each jet ski had a product cost of $1,125, what was the cost of goods sold last year?

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Cost Accounting: Determine the cost of goods sold last year
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