Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 2 - No. 7)

What adjustments are needed to establish the cost of production for the finished goods?

Adjustments for opening and closing work in progress

Adjustments for opening and closing stock

Adjustments for opening and closing inventory

No adjustments are required.

Adjustments for opening and closing work in progress are needed to establish the cost of production for finished goods.