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Beginning finished goods inventory plus cost of goods manufactured equals cost of goods available for sale.
Finished Goods Inventory
The value of a company's inventory of products that are complete and ready for sale.
Cost of Goods Manufactured
The total cost of goods completed during a specific period, including labor, materials, and overhead.
Cost of Goods Available for Sale
The total cost of beginning inventory plus the cost of goods purchased or manufactured during an accounting period, before any sales are subtracted.
- Understand various expenses associated with manufacturing, including raw materials, workforce wages, and indirect costs, and their impact on the final cost of products.
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Learning Objectives
- Understand various expenses associated with manufacturing, including raw materials, workforce wages, and indirect costs, and their impact on the final cost of products.
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