When the sale of finished goods is recorded, the balance in which of the following accounts will decrease? None of the listed choices are correct Work-in-Process Sales Revenue Cost of Goods Sold Raw Materials Inventory Factory Overhead Finished Goods Inventory

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 14MC: The costs to be accounted for consist of which of the following? A. costs added during the period B....
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When the sale of finished goods is recorded, the balance in which of the following accounts will decrease?

None of the listed choices are correct

Work-in-Process

Sales Revenue

Cost of Goods Sold

Raw Materials Inventory

Factory Overhead

Finished Goods Inventory

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