According to accrual accounting,when goods are not sold until the period after they were produced,then the cost of goods sold:

Question

Quizplus · Accepted Answer

According to accrual accounting, revenue and expenses must be recorded in the period in which they are earned or incurred, regardless of when payment is actually received or made. Therefore, if goods are produced in one period but not sold until the following period, the cost of goods sold will be recognized in the second period.

According to Accrual Accounting,when Goods Are Not Sold Until the Period