The Cost of Goods Sold account will have the same ending balance whether using traditional or backflush costing.

Name: The Cost of Goods Sold account will have the same ending balance whether using traditional or backflush costing.
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Question

Quizplus · Accepted Answer

The ending balance of the Cost of Goods Sold account is determined by the total cost of goods sold during the accounting period, which is the same under both traditional and backflush costing. Therefore, the answer is true and option A is correct.

The Cost of Goods Sold Account Will Have the Same