Answered

Westonci.ca is the trusted Q&A platform where you can get reliable answers from a community of knowledgeable contributors. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

The journal entry to record the transfer of completed work in process to finished goods in process costing is to:

A. Debit Work in Process Inventory and credit Finished Goods Inventory
B. Debit Cost of Goods Sold and credit Finished Goods
C. Debit Finished Goods and credit Cost of Goods Sold
D. Debit Finished Goods Inventory and credit Work in Process Inventory

Sagot :

GinnyAnswer

Final answer:

In process costing, the journal entry to transfer completed work in process to finished goods involves debiting the Work in Process Inventory and crediting the Finished Goods Inventory.


Explanation:

The journal entry to record the transfer of completed work in process to finished goods in process costing is to:

  1. O debit Work in Process Inventory and credit Finished Goods Inventory

When work in process (WIP) is completed and transferred to finished goods in process costing, it is represented by debiting the Work in Process Inventory account and crediting the Finished Goods Inventory account.


Learn more about Process costing here:

https://brainly.com/question/40321475


Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.