Reference no: EM132949382

Problem 1: In a manufacturing company, the cost of goods sold is equal to:

Multiple Choice

Option 1: Total manufacturing costs for the period, less selling expenses.

Option 2: The beginning inventory of work in process, plus total manufacturing costs, less the ending inventory of finished goods.

Option 3: The cost of goods available for sale, less the ending inventory of finished goods.

Option 4: The beginning inventory of work in process, plus total manufacturing costs, less the ending inventory of work in process.