Which of the following describes the flow of product costs in a manufacturing company?
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Business, 20.02.2020 18:23, abdullahs4639
Which of the following describes the flow of product costs in a manufacturing company?
Product costs are first accumulated in an asset account (Inventory) and then transferred to an expense account (Cost of Goods Sold) when the products are sold.
Product cost are first accumulated in an expense account (Cost of Goods Sold) and then transferred to an asset account (Inventory) When the goods are sold.
Product costs are recorded in an expense account (Cost of Goods Sold) as the goods are being manufactured.
Product costs are never expensed.
Product costs are first accumulated in an asset account (Inventory) and then transferred to an expense account (Cost of Goods Sold) when the products are sold.
Answers: 3
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