Match the Following Cost Flows with the Proper Event in a Job-Costing

question 15

Multiple Choice

Match the following cost flows with the proper event in a job-costing firm:
-schedule of costs of goods sold is prepared

• A)completion of job
• B)end of each accounting period
• C)materials are moved from storage into production
• D)product is sold
• E)end of year

---

Definitions:

Acculturate

The process by which individuals adopt the cultural traits or social patterns of another group.

Perpetual System

An inventory system that continuously tracks inventory levels and cost of goods sold in real-time.

Merchandise Inventory

The total value of a company's goods held for sale to customers in the ordinary course of business.

Cost of Goods Sold

Direct costs attributable to the production of the goods sold by a company, including materials and labor.