Ending finished goods inventory in a single product company equals the number of units in ending inventory less the number of units in beginning inventory, multiplied by their unit product cost.

Question

Quizplus · Accepted Answer

The formula for calculating ending finished goods inventory in a single product company is: Beginning inventory + Cost of goods manufactured - Cost of goods sold. The formula given in the statement is incorrect.

Ending Finished Goods Inventory in a Single Product Company Equals