The total costs on job cost sheets for jobs that are completed but not yet sold equals the balance in the Finished Goods Inventory account.

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Landen Rauch · Accepted Answer

Final Answer : True, Explanation :  This is true because the costs of completed but unsold jobs are included in the Finished Goods Inventory account, which represents the cost of goods manufactured that are available for sale. Once the goods are sold, the costs are transferred from Finished Goods Inventory to Cost of Goods Sold. Therefore, the balance in the Finished Goods Inventory account should represent the total costs of completed but unsold jobs.

The total costs on job cost sheets for jobs that are completed but not yet sold equals the balance in the Finished Goods Inventory account.

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