Manufactured less the ending finished goods inventory

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Reference no: EM131187160

(True of False)

In a manufacturing company, the calculation of cost of goods sold is the beginning finished goods inventory plus the cost of goods manufactured less the ending finished goods inventory.

Direct materials become a cost of the finished goods manufactured when they are acquired, not when they are used.

The three components in determining cost of goods sold in a manufacturing company are beginning finished goods inventory, cost of goods manufactured, and ending finished goods inventory.

Reference no: EM131187160

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