cost of goods manufactured

brucegmc · #1 Oct 12, 2006, 08:55 PM

in preparing a "cost of goods manufactured" statement, do i consider beginning finished goods and ending finished goods?

wichong · Nov 5, 2008, 07:01 AM

Hi, actually, you don't have to include beginning finished goods and ending finished goods in the "cost of goods manufactured" statement, it is included in "Cost of goods sold" statement. I hope this help you.

muslimrao · Nov 5, 2008, 10:24 PM

Yes you are right WICHONG

brucegmc : Please note below for your information and perusal.

Cost of goods manufactured includes WORK IN PROCESS (ending or opening)

Cost of goods sold includes FINISHED GOODS (ending and opening)

Quote:

Originally Posted by wichong

Hi, actually, you don't have to include beginning finished goods and ending finished goods in the "cost of goods manufactured" statement, it is included in "Cost of goods sold" statement. I hope this help you.



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