The addition of prime cost, indirect cost and opening work-in-progress less the closing work-in-progress will result in cost of

  • A goods available for sale
  • B goods sold
  • C goods manufactured
  • D materials put into production
jamb 2013accounting

The correct answer is C. goods manufactured

The cost of goods manufactured equation is calculated by adding the total manufacturing costs; including all direct materials, direct labor, and factory overhead; to the beginning work in process inventory and subtracting the ending goods in process inventory.

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