The total amount of cost assigned to jobs that were completed during the year is the cost of goods sold.The total amount of cost assigned to jobs that were completed during the year is the cost of goods manufactured.

Question

Quizplus · Accepted Answer

The cost of goods manufactured refers to the total production cost of goods completed during the year, while the cost of goods sold includes the cost of goods manufactured plus any beginning inventory, minus ending inventory.

The Total Amount of Cost Assigned to Jobs That Were