Accounting MCQ Accounting The balance of the Cost of Goods Sold account at the end of the year represents:

The balance of the Cost of Goods Sold account at the end of the year represents:

Naim 12:22 Accounting

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: C

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