The purpose of the statement of cost of goods manufactured is to:
A) Calculate the cost of goods transferred to finished goods inventory during the period.
B) Calculate cost of goods sold.
C) Calculate net income.
D) Both A and B

Question

Quizplus · Accepted Answer

The statement of cost of goods manufactured is used by a manufacturing company to calculate the cost of goods completed and transferred to finished goods inventory during the period.

The Purpose of the Statement of Cost of Goods Manufactured