During February, Degan Inc. transferred $60,000 from Work in Process to Finished

Question

During February, Degan Inc. transferred $60,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $65,000. The journal entries to record these transactions would include a: Answer debit to Finished Goods of $65,000 credit to Cost of Goods Sold of $65,000 credit to Work in Process of $60,000 credit to Finished Goods of $60,000 During February, Degan Inc. transferred $60,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $65,000. The journal entries to record these transactions would include a: During February, Degan Inc. transferred $60,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $65,000. The journal entries to record these transactions would include a: debit to Finished Goods of $65,000 credit to Cost of Goods Sold of $65,000 credit to Work in Process of $60,000 credit to Finished Goods of $60,000 debit to Finished Goods of $65,000 credit to Cost of Goods Sold of $65,000 credit to Work in Process of $60,000 credit to Finished Goods of $60,000

Explanation / Answer

credit to Cost of Goods Sold of $65,000

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