The account Finished Goods:
A)Consists of completed goods that have not yet been sold.
B)Consists of goods being manufactured that are incomplete.
C)Consists of materials to be used in the production process.
D)Consists of the cost of new materials used,labor but not overhead.

Question

Quizplus · Accepted Answer

Finished Goods account consists of completed goods that have not yet been sold. This account is a part of the inventory accounts and represents the value of completed products that are ready to be sold to customers.

The Account Finished Goods