Match the inventory-related accounts to costs that may be included in inventories for retailers and manufacturers.
-Costs of completed items that have been sold to customers.

Question

Quizplus · Accepted Answer

The costs of completed items that have been sold to customers are included in the cost of goods sold account, which is a separate account from the inventory accounts (merchandise inventory, raw materials, work-in-process, finished goods).

Match the Inventory-Related Accounts to Costs That May Be Included