When finished goods are sold the entry to record the cost of goods sold is a debit to Finished Goods Inventory and a credit to Cost of Goods Sold.

Name: When finished goods are sold the entry to record the cost of goods sold is a debit to Finished Goods Inventory and a credit to Cost of Goods Sold.
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Question

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The correct entry to record the cost of goods sold is a debit to Cost of Goods Sold and a credit to Finished Goods Inventory.

When Finished Goods Are Sold the Entry to Record the Cost