The ending work-in-process inventory is deducted on the
A)balance sheet.
B)income statement.
C)statement of cost of goods manufactured.
D)statement of cash flows.

Question

Quizplus · Accepted Answer

The ending work-in-process inventory is a component of the statement of cost of goods manufactured, which shows the total cost of goods that were completed and transferred to finished goods during the accounting period. It is not deducted on the balance sheet or income statement, nor does it affect the statement of cash flows.

The Ending Work-In-Process Inventory Is Deducted on the