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COGS T-account Multiple Choice Question

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In the T-account cost flow diagram of balance sheet inventory accounts and the income statement cost of goods sold account:

a)raw materials purchased are debited to work in process
b)direct labor costs are credited to work in process
c)cost of goods manufactured is debited to finished goods inventory
d)cost of goods sold is debited to finished goods inventory

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Solution Summary

This solution explains the correct response to the given accounting problem.

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