In a job-order costing system, the Finished Goods account includes the cost of all jobs completed and sold during an accounting period.

Question

Quizplus · Accepted Answer

In a job-order costing system, the Finished Goods account includes the cost of all jobs completed during an accounting period, not just those that have been sold. Unsold completed goods also remain in the Finished Goods account until they are sold.

In a Job-Order Costing System, the Finished Goods Account Includes