Cost of Goods Sold can be calculated in the following manner:
A) Beginning Work in Process + Cost of Goods Manufactured - Ending Work in Process
B) Beginning Finished Goods + Cost of Goods Manufactured - Ending Finished Goods
C) Ending Materials Inventory + Ending Work in Process + Ending Finished Goods
D) Ending Finished Goods - Beginning Finished Goods - Manufacturing Overhead

Question

Quizplus · Accepted Answer

Cost of Goods Sold (COGS) is calculated by adding the beginning inventory of finished goods to the cost of goods manufactured during the period and then subtracting the ending inventory of finished goods. This reflects the total cost of goods that were sold during the period.

Cost of Goods Sold Can Be Calculated in the Following