Refer to ComPrint Co

question 30

Multiple Choice

Refer to ComPrint Co. What was the amount of Cost of Goods Manufactured for the year?

• A) $100,000
• B) $101,000
• C) $102,000
• D) $124,000

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Definitions:

Inventory

Items that are held by a company for the purpose of selling in the near future or the materials used to produce those goods.

Supplies

Tangible items used in the operation of a business that are not directly associated with the product or service offered.

Physical Inventory

A process where a business physically counts its entire inventory to ensure the accuracy of its records and control its stock levels.