When using a standard costing system,which of the following should be recorded when finished goods are sold?
A) Debit cost of goods sold for actual cost and credit finished goods for actual cost
B) Debit cost of goods sold for standard cost and credit finished goods for actual cost
C) Debit cost of goods sold for standard cost and credit finished goods for standard cost
D) Debit cost of goods sold for actual cost and credit finished goods for standard cost
Correct Answer:
Verified
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