Finished goods on December 31 are 150 bicycle helmets valued at $25 each and 280 ski helmets valued at $93 each. What is total ending finished goods?

1. Bicycle helmets give 150 units times $25, which is $3,750. 2. Ski helmets give 280 units times $93, which is $26,040. 3. Total ending finished goods are $3,750 plus $26,040, which is $29,790. 4. This amount is deducted on the cost of goods sold budget, because unsold goods are not a cost of sales. 5. Unit costs differ between January 1 and December 31, so the opening and closing valuations use different rates. 6. $33,040 is the opening finished goods figure, built on unit costs of $24 and $95. 7. $26,100 is the closing work in process, which is a different inventory altogether. _Source: Jonick, Principles of Managerial Accounting (UNG Press, CC BY-SA 4.0), section 7.7 Cost of Goods Sold Budget_