Acct202 exam - Study guides, Class notes & Summaries
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acct202 exam1 |Questions with 100% Correct Answers| Already Passed Grade A
- Exam (elaborations) • 20 pages • 2024
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What is the process of obtaining COST OF GOODS SOLD for a manufacturing company? -
beginning finished goods inventory + cost of goods manufactured - ending finished goods
inventory
Calculation of cost of goods manufactured (COGM) - beginning WIP + total manufacturing costs
= total cost of work in progress
THEN
total cost of work in progress - ending WIP = COGM
Exam (elaborations)
acct202 exam1 |Questions with 100% Correct Answers| Already Passed Grade A
Last document update:
ago
What is the process of obtaining COST OF GOODS SOLD for a manufacturing company? - beginning finished goods inventory + cost of goods manufactured - ending finished goods inventory Calculation of cost of goods manufactured (COGM) - beginning WIP + total manufacturing costs = total cost of work in progress THEN total cost of work in progress - ending WIP = COGM
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