Which of the following items appears only in a manufacturing company's financial statements?
A) Cost of goods sold.
B) Cost of goods manufactured.
C) Goods available for sale.
D) Gross profit.
E) Net income.

Question

Quizplus · Accepted Answer

Cost of goods manufactured is a specific item that appears only in a manufacturing company's financial statements. It represents the total cost of producing the goods that are ready for sale during a specified period. The other items listed (cost of goods sold, goods available for sale, gross profit, and net income) can appear in the financial statements of both manufacturing and non-manufacturing companies.

Which of the Following Items Appears Only in a Manufacturing