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Finished goods are goods that have completed the manufacturing process but have not yet been sold or distributed to the end user.

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8y ago

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What is the journal entry to move finished goods from Work In Process to Finished Goods Inventory?

[Debit] Finished Goods [Credit] Work in process


How to calculate the closing stock of finished goods?

annual cost of sales=1800000 opening stock of finished goods=60000 finished goods storage period:10 days assuming 360 days in a year, the closing stock of finished goods is=??


How do you calculate beginning finished good when sales are 365000 ending finished goods are 14000 cost of goods sold is 220000 and cost of goods manufactured is 190000?

Consider beginning finished goods as x: Cost of goods sold = x + cost of goods manufactured - ending finished goods inventory 220,000 = x + 190,000 - 14,000 x=44000


What is the high risk of finished goods inventory?

The high risk of finished goods inventory is the risk of loss of inventory due to theft, spoilage, or even fire. Storing finished goods is also expensive and if the market changes, can destroy a business.


What is the formula to get the cost of goods manufactured for the month with beginning fished goods and ending finished goods and sales and gross margin?

Suppose that:Cost of good manufactured is x=? Beginning Finished Good = 10, 000 ending Finished goods= 5000 sales= 15000 Margin= 5000 Cost of goods sold is actually sales-Margin= 15000-5000=10,000 So, the standard formula is given by: Cost of goods sold= beginning finished goods + Cost of Goods manufactured(x) - ending finished goods. By putting the values we get: 10, 000 = 10, 000 + x - 5000 x= 5000


Is sales returns an asset?

Sales return is that portion of finished goods which once sold but refund back by customers so as finished goods are assets same way sales return is asset as well because it increase the finished goods inventory.


What does a colony usually provide for its ruling country?

raw materials and cheap labor for apex 7.2.4


What workers mad finished goods?

HELP!


What helped moved raw materials to the factories finished goods to market?

Railroads helped move raw materials to the factories and finished goods to the market.


What helped move the raw materials to the factories and finished goods to market?

Railroads helped move raw materials to the factories and finished goods to the market.


Classification of Working Capital?

stocks and finished goods


Is classified as working capital?

stocks of finished goods