The cost of the goods that a company sold during a period is shown in its financial statements as ________ and the cost of the goods that a company still has on hand at the end of the year is shown in the financial statements as ________.
A) Cost of goods sold; inventory
B) Goods on hand; inventory expense
C) Inventory; cost of goods sold
D) Sales revenue; cost of goods sold
Answer: Cost of goods sold; inventory
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