The balance of the Cost of Goods Sold account at the end of the year represents:
A) The cost of inventory not sold in the current year.
B) The total sales revenue to customers.
C) The cost of inventory sold in the current year.
D) Total purchases of inventory for the year.
Answer: The cost of inventory sold in the current year.
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.