Which of the Following Is the Correct Formula for Cost

question 28

Multiple Choice

Which of the following is the correct formula for cost of goods sold?

• A)Opening WIP inventory + cost of goods manufactured + ending WIP inventory.
• B)Opening WIP inventory - cost of goods manufactured = ending WIP inventory.
• C)Opening finished goods inventory - cost of goods manufactured + Ending finished goods inventory.
• D)Opening finished goods inventory + cost of goods manufactured - Ending finished goods inventory.
• E)None of the above.

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Definitions:

Dependent Variable

A variable in an experiment or study whose changes depend on the manipulation of the independent variables.

Logistic Regression

A statistical method for analyzing datasets in which there are one or more independent variables that determine an outcome. The outcome is measured with a dichotomous variable (in which there are only two possible outcomes).

Dependent Variable

In statistical modeling, this is the variable whose variation is being studied to see if it can be predicted or explained by variation in other variables.

Denominator Degrees

This key term does not appear to be standard; however, it may refer to the denominator in statistical formulas where degrees of freedom are considered.