OCR: calculations become even more difficult and the results less reliable Test runs must be made estimates based upon original specifications must be available and opinions experienced factory employees must be solicited The computation of the cost of goods sold and its companion figure, the inventory finished goods, likewise involves the use gross estimates. A physical count can be made of the items of finished product on hand but the unit cost to hf used the valuation of the inventory again matter of conjecture. This means that any losses are probably concealed in the cost 0 goods sold figure If the amount work in process inventory not too large, the total cost of the finished product can be determined with fair degree of arithmetic but when several products are manufactured. there is no sys ...
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