The cost of the inventory items sold is tracked in what account?
A)Items Sold
B)Cost of Goods Sold
C)Cost of Materials
D)Inventory Sold

Question

Quizplus · Accepted Answer

The cost of the inventory items sold is tracked in the Cost of Goods Sold account. This account is typically used to record the direct costs associated with the production of goods or services sold by a business. It includes the cost of materials, labor, and overhead incurred in the production process.

The Cost of the Inventory Items Sold Is Tracked in What