The cost of the goods that a company sold during a period is shown in its financial statements as ___________ and the cost of the goods that a company still has on hand at the end of the year is shown in the financial statements as ____________.

Question

Quizplus · Accepted Answer

The cost of the goods that a company sold during a period is shown as Cost of goods sold (COGS) and the cost of the goods that a company still has on hand at the end of the year is shown as Inventory. COGS represents the cost of producing or purchasing the goods that were sold during the period, while inventory represents the cost of goods that are still unsold and are held by the company. Therefore, option A is the correct answer.

The Cost of the Goods That a Company Sold During