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    brucegmc's Avatar
    brucegmc Posts: 1, Reputation: 1
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    #1

    Oct 12, 2006, 08:55 PM
    Cost of goods manufactured
    In preparing a "cost of goods manufactured" statement, do I consider beginning finished goods and ending finished goods?
    wichong's Avatar
    wichong Posts: 4, Reputation: 1
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    #2

    Nov 5, 2008, 08:01 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's Avatar
    muslimrao Posts: 34, Reputation: 2
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    #3

    Nov 5, 2008, 11:24 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 View Post
    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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