B Chapte XAssessr XE BACC3 xG how to XManufa xACCT 2 XG googled/e/1FAlpQLSd9WVs6nWKuMBklgZTHsJuONFHha3NUbuOsXN20X-vguMeRnw/formResponseFinished goods inventory shows the cost of completed goods available for saleto customers. *TrueFalseDirect materials become a cost of the finished goods manufactured when they

Finished goods inventory are the part of the cost of goods available for sale and it is added back…

Answered: Finished goods inventory shows the cost…

Business

Accounting

Finished goods inventory shows the cost of completed goods available for sale to customers. O True False

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 3RE: Blue Corporation uses the FIFO cost flow assumption. Presented below is information related to Blues...

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Question

B Chapte X
Assessr X
E BACC3 x
G how to X
Manufa x
ACCT 2 X
G google
d/e/1FAlpQLSd9WVs6nWKuMBklgZTHsJuONFHha3NUbuOsXN20X-vguMeRnw/formResponse
Finished goods inventory shows the cost of completed goods available for sale
to customers. *
True
False
Direct materials become a cost of the finished goods manufactured when they

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Work in process inventory, 08/31/x2? Finished goods inventory, 08/31/x2?
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Blue Corporation uses the FIFO cost flow assumption. Presented below is information related to Blues inventory: Determine (a) the net realizable value for each item and (b the inventory value of each item using the lower of cost or net realizable value rule.
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Which one of the following inventory management approaches determines the finished goods inventory level and then works backward until the raw material needs are determined? A. Just-in-time B. Extended EOQ C. Materials requirements planning D. Economic order quantity
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Refer to the pictur ebelow: Find: 1. Total Cost of Product A under ABC System2. Total Cost of Product B under ABC System3. Selling Price per unit of Product B assuming profit margin of 20% above cost