Question: Gluth Corporation has provided the following data for the month

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 totalled $290,000. Cost of goods manufactured was $147,000, selling expense was $17,000, and administrative expense was $68,000.
1. The cost of goods sold for July was:
A. $232,000
B. $140,000
C. $154,000
D. $147,000
2. The net operating income for July was:
A. $58,000
B. $143,000
C. $150,000
D. $51,000


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  • CreatedJuly 28, 2013
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