Question
At the end of the year, if variances are considered insignificant: 1.They should not be closed, because they are not temporary accounts, and should be
At the end of the year, if variances are considered insignificant:
1.They should not be closed, because they are not temporary accounts, and should be carried over in the balance sheet to the next year
2.They are closed to Work in Process inventory
3.They are closed to COGS
4.They are closed to Finished Goods inventory
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Cost Accounting
Authors: Edward B. Deakin, Michael Maher
3rd Edition
0256069190, 978-0256069198
