40.Which of the following replaces the retailing component “Purchases” in computing Cost of Goods Sold for a manufacturing company? a. direct material used b. cost of goods manufactured c. total prime cost d. cost of goods available for sale

40.Which of the following replaces the retailing component “Purchases” in computing Cost of Goods Sold for a manufacturing company? a. direct material used b. cost of goods manufactured c. total prime cost d. cost of goods available for sale

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

40.Which of the following replaces the retailing component “Purchases” in computing Cost of Goods Sold for a manufacturing company?

a. direct material used

b. cost of goods manufactured

c. total prime cost

d. cost of goods available for sale

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