Question

LO 4.3From beginning to end, place these items in the order of the flow of goods.

Answer 1

Answer:

1. cost of goods sold
2. raw materials inventory
3. work in process inventory
4. finished goods inventory

Explanation:

solution

As manufacturing industry always keep the track of costs of each inventory as product is moving from the raw material inventory in to the work in process and by the work in process it goes into the the finished goods inventory

so order of the flow of goods from beginning to end is

1. cost of good sold  
2. raw material inventory  : it is the total cost of material that is use in production process
3. work in process inventory : work in process inventory is continually update work cost is record
4. finished good inventory  : after each job work complete then product is transfer to finished goods inventory