Question

On the cost of goods manufactured schedule, the cost of goods manufactured agrees with the:________ a. total debits to Work in Process Inventory during the period. b. balance of Finished Goods Inventory at the end of the period. c. debits to Cost of Goods Sold during the period. d. amount transferred from Work in Process Inventory to Finished Goods during the period.

Answer 1

Answer:

c. debits to Cost of Goods Sold during the period

Explanation:

For a Manufacturing firm, the Cost of Sales is equal to the Cost of Goods Manufactured.

Therefore, On the cost of goods manufactured schedule, the cost of goods manufactured agrees with the debits to Cost of Goods Sold during the period.