Question 1
Sales of finished goods by a business for the year ended 30 June 2018 were $240,000, the selling price showing a mark-up of 50% on cost. The finished goods inventory as at 1 July 2017, valued at cost, was $60,000 and at 30 June 2018 was $10,000. What was the cost of goods manufactured for the year ended 30th June 2018?
	Calculations
Opening FG
Closing FG
COGS
COGM

Please provide full explanations and solution. Thanks!