The 1987 Goody's 500 was the 24th stock car race of the 1987 NASCAR Winston Cup Series season and the 39th iteration of the event.

Heading into the final lap of the race, the three cars of Hendrick Motorsports' Darrell Waltrip, Richard Childress Racing's Dale Earnhardt, and Junior Johnson & Associates' Terry Labonte engaged in a battle for the victory.

Labonte hit Earnhardt's car, letting Waltrip pass the two of them to take his 71st career NASCAR Winston Cup Series victory and his only victory of the season.

At 0.526 miles (0.847 km) in length, it is the shortest track in the NASCAR Cup Series.

Geoff Bodine, driving for Hendrick Motorsports, managed to win the pole, setting a time of 20.759 and an average speed of 91.218 miles per hour (146.801 km/h) in the first round.