In a process costing system, costs flow into finished goods inventory only from the work in process inventory of the last process.

Name: In a process costing system, costs flow into finished goods inventory only from the work in process inventory of the last process.
Brand: Quizplus
Rating: 4.9 (50 reviews)

Question

Quizplus · Accepted Answer

In a process costing system, costs are transferred from one process to another and finally to finished goods inventory. Therefore, the costs flow into finished goods inventory from the work in process inventory of the last process.

In a Process Costing System, Costs Flow into Finished Goods