Answer to Question #243705 in Accounting for samantha

Question

5. Which of the following is the correct formula in finding COGS or COS?

a.The COS for manufacturing entities is zero because of its value in deflation.

b.The COS for merchandising entities is goods available for sale minus the ending

amount of inventories.

c.The COS for service entities is service available for sale plus the beginning service inventories.

d.The COS for service entities is equal to the adjusted market selling price.

Answer 1

d