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

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

Quizplus · Accepted Answer

The total amount of cost assigned to jobs that were completed during the year is known as the cost of goods manufactured, not the cost of goods sold. Cost of goods sold includes the cost of goods manufactured plus the beginning inventory minus the ending inventory.

The Total Amount of Cost Assigned to Jobs That Were