Cost of goods sold is obtained from Select one: a. analysis of all the control accounts in the cost system. b. the finished goods inventory records. c. the work in process inventory records. d. the Raw Materials Inventory control account. Check

Question

Business

Mara Joseph

9 November, 21:05

Cost of goods sold is obtained from Select one: a. analysis of all the control accounts in the cost system. b. the finished goods inventory records. c. the work in process inventory records. d. the Raw Materials Inventory control account. Check

+2

Answers (1)

Know the Answer?

Ty Ballard · Answer 1

The correct option is B

Explanation:

COGS which is stated as the Cost of goods sold, and it is described as the cost that is directly attributable to the production of the goods which is sold in a firm. It involves the material cost which is used in creating the good along with cost of direct labor.

So, it can be obtained from the records of the finished goods inventory, which means that the product is ready to sale.