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Last updated 2:07 PM on 4/9/24
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4 Terms
1
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beginning work in process inventory + total manufacturing costs
= total costs of working process .
2
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total costs of working process - ending work in process
= costs of goods manufactured
3
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Merchandisers compute cost of goods sold by
adding the beginning merchandise inventory to the cost of goods purchased and subtracting the ending merchandise inventory.
4
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Manufacturer compute cost of goods sold by
adding the beginning merchandise inventory to the cost of goods manufactured and subtracting the ending merchandise inventory.
