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What are the three categories of product costs that flow through the work-in-process inventory account? Describe each one. When is the cost of goods sold

  1. What are the three categories of product costs that flow through the work-in-process inventory account? Describe each one.
  2. When is the cost of goods sold account (often called cost of sales) used, and how is the dollar amount recorded in this account determined?
  3. How do the treasurers responsibilities differ from those of the controller?

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