When using backflush costing,product costs are first accumulated in the __________ account.
A)Cost of Goods Sold
B)Work in Process Inventory
C)Conversion Costs
D)Finished Goods Inventory

Question

Quizplus · Accepted Answer

Backflush costing is a simplified accounting method that delays the recording of costs until the goods are finished, directly assigning them to Cost of Goods Sold, bypassing the traditional steps of recording them in Work in Process and Finished Goods Inventory accounts.

When Using Backflush Costing,product Costs Are First Accumulated in the __________