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MCQs) When a product is sold to a customer, which of the following inventory accounts is increased or decreased? (a) Work in Process is decreased
MCQs)
When a product is sold to a customer, which of the following inventory accounts is increased or decreased?
(a) Work in Process is decreased and Finished Goods is increased
(b) Finished Goods is increased and Cost of Goods Sold is decreased
(c) Finished Goods is decreased and Cost of Goods Sold is increased
(d) Raw Materials is decreased and Cost of Goods Sold is increased
(e) Other: (Explain)
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