Cost of goods completed is the same as:

Name: Cost of goods completed is the same as:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The cost of goods completed refers to the total cost incurred in converting raw materials into finished goods. This cost includes direct materials, direct labor, and manufacturing overhead. This cost is then transferred to the finished goods inventory and eventually sold, which becomes the cost of goods sold. Therefore, the cost of goods completed is the same as the cost of goods manufactured.

Cost of Goods Completed Is the Same As