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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Regarding the flow of costs through the inventory accounts, which of the following statements is incorrect?
A) The format for computing the amount used, manufactured, or sold is the same for all three inventory accounts.
B) Purchases and freight in are debited to the Work-in-Process Inventory account.
C) The costs flow from Raw Materials Inventory to Work-in-Process Inventory to Finished Goods Inventory.
D) The final amount at each stage is added at the beginning of the next stage.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Mrgo-breedMrgo-breed
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7 years ago
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H3Ko Author
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#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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#3
7 years ago
Happy to help Smiling Face with Open Mouth
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