We've found 28 Finished Goods Inventory tests

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Patricia Smith
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Dennis Jennings
54 terms
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Jill Lopez
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Kenneth McQuaid
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Chapter 14 Managerial Accounting – Flashcards 41 terms
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Marta Browning
41 terms
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Chapters 1-3 Questions for Managerial Accounting Final – Flashcards 10 terms
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Richard Molina
10 terms
Accounting Cost Volume Profit Analysis Finance Financial Accounting Finished Goods Inventory Principles Of Economics: Microeconomics
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James Storer
28 terms
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Charlotte Small
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Accounting Finance Financial Accounting Finished Goods Inventory Intermediate Accounting 1
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Suzette Hendon
37 terms
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Thomas Alday avatar
Thomas Alday
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Sam Arent
52 terms
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Judith Simpson
105 terms
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Rebecca Mallory
57 terms
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Jill Lopez avatar
Jill Lopez
38 terms
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Bernice Cooper
16 terms
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SCM 301 Final- Iowa State University – Flashcards 146 terms
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Jose Escobar
146 terms
Accounting Finance Finished Goods Inventory Intermediate Accounting 1 Pro Forma Financial Statements Short Term Goals
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Pedro Huang
54 terms
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Bettina Hugo
84 terms
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Charles Clay
186 terms
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Mary Moore
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Noel Macdonald
128 terms
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acct chap 14 – Flashcards 21 terms
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Kaiya Hebert
21 terms
Under which situtation is Finished Goods Inventory debited and work-in-process inventory account credited?
Transfer of goods to the finished goods storeroom
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Q 6.3: How is inventory ready for sale classified in a manufacturing company? A : finished goods inventory B : store supplies inventory C : work in process inventory D : raw materials inventory
A : finished goods inventory
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Which of the following inventory costing methods shown below is most likely to cause undesirable incentives for managers to build up finished goods inventory?
Absorption costing
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Which of the following is an example of a firm’s intangible resources? A. the firm’s cash at bank B. the firm’s finished goods inventory C. the firm’s organizational culture D. the firm’s land and building
C. the firm’s organizational culture
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Which one of the following does NOT appear on the balance sheet of a manufacturing company: a) finished goods inventory b) work in process inventory c) costs of goods manufactured d) raw materials inventory
Cost of goods manufactured
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Under which of the following situations is Finished Goods Inventory debited and Work – in – Process Inventory account credited? A. Transfer of goods to the finished goods storeroom B. Purchased of goods on account C. Transfer goods out of the factory D. Transfer of material to Work – in – Process Inventory account
A. Transfer of goods to the finished goods storeroom
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If the cost of goods sold is less than the cost of goods manufactured, then which of the following must be true?: a.) Work in process inventory has decreased during the period. b.) Finished goods inventory has increased during the period. c.) Total Manufacturing costs must be greater than cost of goods manufactured. d.) Finished goods inventory has decreased during the period.
b.)Finished goods inventory has increased during the period.
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Which of the following accounts is used to accumulate the actual manufacturing overhead costs incurred during a period? – Applied Manufacturing Overhead – WorkinProcess Inventory – Manufacturing Overhead Control – Cost of Goods Sold – Finished Goods Inventory
Manufacturing Overhead Control Since this is “actual” overhead it would not go to “Applied”. Manufacturing Overhead Control would get the actual overheads.
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