On the Statement of Cost of Goods Manufactured, Cost to Manufacture is added to (Beginning or Ending) Work in Process inventory, and (Beginning or Ending) Work in Process Inventory is deducted to give Cost of Goods Manufactured.

Beginning and Ending

Explanation:

COGM stands or termed as Cost of goods manufactured, which is used in the managerial accounting, it refers to the statement, which shows the aggregate production costs of the company or business during a particular period of time.

In short it is the aggregate cost which is incurred to manufacture the products and transfer the products into the finished goods inventory for the purpose of retail sale.

The formula to evaluate the COGM is:

COGM = Cost of Manufactured goods (involve Direct Materials Used, Manufacturing Overhead and Direct Labor Used) + Starting Work in Process (WIP) Inventory -  Ending Work in Process (WIP) Inventory