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Topic: |
Business
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Number of pages / Number of words: |
4 / 979 |
Essay's paper body
The finished goods inventory is goods that is manufactured but not have been shipped yet. Those three types of inventory accounts are necessary for determining the cost of goods sold. I use the periodic inventory method. First of all, we need to determine the cost of materials used that is the sum of all materials issued during the period...
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First of all, we need to determine the cost of materials used that is the sum of all materials issued during the period.
(Materials used) = (Beginning materials inventory) +
(Purchased materials inventory) ? (Ending materials inventory)
Next, we need to determine the cost of goods manufactured that is the manufacturing or conversion cost such as labor costs and factory's utilities and materials cost...
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