The determination of the cost of goods manufactured involves the following facto

Question

The determination of the cost of goods manufactured involves the following factors:

(A) beginning work in process inventory,

(B) total manufacturing costs, and

(C) ending work in process inventory.

Identify the meaning of x in the following formulas below (a) and (b).

In addition please define "Cost of Goods Manufactured(COGM)" in your own words and how this COGM figure would be different from COGS (Cost of Goods Sold) you had learned from financial accounting course earlier:

(a)

A + B = x

(b)

A + B - C = x

Explanation / Answer

b)

A + B - C = x

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