What is one of the accounts that Chelm should credit when goods are sold?
A)Finished Goods
B)Work in Process
C)Cost of Goods Sold
D)Manufacturing Overhead
E)Cost of Goods Manufactured

Name: What is one of the accounts that Chelm should credit when goods are sold? A)Finished Goods B)Work in Process C)Cost of Goods Sold D)Manufacturing Overhead E)Cost of Goods Manufactured
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Question

Quizplus · Accepted Answer

When goods are sold, Chelm should credit the Finished Goods account to decrease the inventory, as the goods are no longer in stock.

What Is One of the Accounts That Chelm Should Credit