If you want to know the amounts a company used to calculate, 'cost of goods manufactured,' where would you look?
A)on the income statement
B)on the Balance Sheet
C)on both the Balance Sheet and income statement
D)only in the managerial accounting records

Question

Quizplus · Accepted Answer

The 'cost of goods manufactured' is a figure primarily used in managerial accounting to measure the total production cost of goods completed during a specific period. It is not typically disclosed on external financial statements like the income statement or balance sheet but is found in internal managerial accounting records.

If You Want to Know the Amounts a Company Used