Use the information below to answer the following question(s).Frazer Inc.had the following activities in the year:

-Which of the following formulas determine cost of goods sold in a manufacturing entity?
A)Beginning work-in-process inventory + Cost of goods manufactured - Ending work-in-process inventory = Cost of goods sold
B)Beginning work-in-process inventory + Cost of goods manufactured + Ending work-in-process inventory = Cost of goods sold
C)Cost of goods manufactured - Beginning finished goods inventory - Ending finished goods inventory = Cost of goods sold
D)Cost of goods manufactured + Beginning finished goods inventory - Ending finished goods inventory = Cost of goods sold
E)Beginning work-in-process inventory - Cost of goods manufactured + Ending work-in-process inventory = Cost of goods sold

Question

Use the information below to answer the following question(s).Frazer Inc.had the following activities in the year:
 
-Which of the following formulas determine cost of goods sold in a manufacturing entity?
A)Beginning work-in-process inventory + Cost of goods manufactured - Ending work-in-process inventory = Cost of goods sold 
B)Beginning work-in-process inventory + Cost of goods manufactured + Ending work-in-process inventory = Cost of goods sold 
C)Cost of goods manufactured - Beginning finished goods inventory - Ending finished goods inventory = Cost of goods sold 
D)Cost of goods manufactured + Beginning finished goods inventory - Ending finished goods inventory = Cost of goods sold 
E)Beginning work-in-process inventory - Cost of goods manufactured + Ending work-in-process inventory = Cost of goods sold

Quizplus · Accepted Answer

The correct formula for determining the cost of goods sold in a manufacturing entity is: Cost of goods manufactured + Beginning finished goods inventory - Ending finished goods inventory.

Use the Information Below to Answer the Following Question(s)