What is the means of cost of goods sold


Response to the following questions:

1. What is the order for listing accounts in the Current Assets section of the balance sheet?

2. What is the difference between the cost of goods available for sale and the cost of goods sold?

3. What are the basic classifications found on an income statement for a merchandising business as compared to a service business?

 

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Accounting Basics: What is the means of cost of goods sold
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