The schedule of cost of goods manufactured is prepared before the income statement for a manufacturing company.

Question

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The schedule of cost of goods manufactured is a necessary step in preparing the income statement for a manufacturing company, as it shows the total cost of goods produced during the period and the cost of goods sold, which are important factors in determining the company's gross profit and net income. Therefore, it is prepared before the income statement.

The Schedule of Cost of Goods Manufactured Is Prepared Before