Hey Guys, a quick question, when using the complete-contract method, does one occur costs during the period and if so what would the journal enteries be. Or would one only make one adjustment at the end of the project for sales and cogs? Thanks
Check this out, might help: http://www.analystforum.com/phorums/read.php?11,744023 Cost incurred are held on the BS as inventory.
Ah, great post…thanks for the link : )