Which of the following statements is correct?
A) A decrease in finished goods means that cost of goods manufactured is greater than cost of goods sold.
B) A decrease in work in process means that cost of goods sold is greater than cost of goods manufactured.
C) A decrease in raw materials implies that the cost of materials used in production exceeds the cost of the materials purchased.
D) A decrease in work in process means that cost of goods manufactured was less than the manufacturing costs incurred.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is correct?
A) A decrease in finished goods means that cost of goods manufactured is greater than cost of goods sold.
B) A decrease in work in process means that cost of goods sold is greater than cost of goods manufactured.
C) A decrease in raw materials implies that the cost of materials used in production exceeds the cost of the materials purchased.
D) A decrease in work in process means that cost of goods manufactured was less than the manufacturing costs incurred.

Which of the Following Statements Is Correct