A company sells goods for $150,000 that cost $60,000 to manufacture. Which statement(s) are true? Solution Solution b. The company will decrease finished goods by $60,000. .

1. A company sells goods for $150,000 that cost $60,000 to manufacture. Which statement(s) are
true?
a. The company will recognize sales on the balance sheet of $150,000.
b. The company will decrease finished goods by $60,000.
c. The company will recognize $90,000 gross profit on the balance sheet.
d. All of these are true.
Solution
Solution
b. The company will decrease finished goods by $60,000.