Which of the following is the correct formula for cost of goods sold?
A) Opening WIP inventory + cost of goods manufactured + ending WIP inventory.
B) Opening WIP inventory - cost of goods manufactured = ending WIP inventory.
C) Opening finished goods inventory - cost of goods manufactured + Ending finished goods inventory.
D) Opening finished goods inventory + cost of goods manufactured - Ending finished goods inventory.
E) None of the above.
Correct Answer:
Verified
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