The finished goods account is the controlling account for the

Question

Quizplus · Accepted Answer

The finished goods account is used to track the cost of goods that have been completed and are ready for sale. It is therefore the controlling account for the stock ledger, which contains details of all the completed products held in inventory. The sales ledger is used to record the amounts of sales made to customers, while the materials ledger tracks the usage of raw materials and other direct costs associated with production. The work in process ledger is used to keep track of the costs associated with partially completed products.

The Finished Goods Account Is the Controlling Account for the