Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 6 - Reporting and Analyzing Inventory - Questions: 20


Cost includes all expenditures necessary to acquire goods and place them in a Condition ready for sale.

Work Step by Step

It is not proper to include them in the cost of goods sold account, since the freight-out is the expense of transportation of goods for sales
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