During October, Beidleman Inc. transferred $64,100 from Work in Process to Finis

Question

During October, Beidleman Inc. transferred $64,100 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $69,210. The journal entries to record these transactions would include a:

credit to Cost of Goods Sold of $69,210

credit to Finished Goods of $64,100

credit to Work in Process of $64,100

debit to Finished Goods of $69,210

During October, Beidleman Inc. transferred $64,100 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $69,210. The journal entries to record these transactions would include a:

Explanation / Answer

The journal entry to record the transfer of goods from work in process to finished goods inventory will be prepared as follows:

Debit to Finished Goods Inventory $64,100

Credit to Work in Process Invenotory $64,100

Therefore, the journal entry to record the above transactions will include a credit to Work in Process of $64,100.

Related Questions

Navigate

• Browse (All)
• Browse D
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.