At the end of an accounting period,the balance in the Finished Goods Inventory account is the sum of costs of products completed and the cost of goods sold as of that date.

Question

Quizplus · Accepted Answer

The balance in the Finished Goods Inventory account at the end of an accounting period represents the cost of products that have been completed but not yet sold. It does not include the cost of goods sold.

At the End of an Accounting Period,the Balance in the Finished