Immediately before it is closed, the balance of the Manufacturing Summary account represents the cost of goods manufactured.

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The Manufacturing Summary account is used to summarize the cost of production for a specific period, including direct materials, direct labor, and manufacturing overhead. The balance of this account at the end of the period represents the total cost of goods manufactured during that period. Therefore, the statement "Immediately before it is closed, the balance of the Manufacturing Summary account represents the cost of goods manufactured" is true.

Immediately Before It Is Closed, the Balance of the Manufacturing