Answered

Westonci.ca is the ultimate Q&A platform, offering detailed and reliable answers from a knowledgeable community. Our Q&A platform provides quick and trustworthy answers to your questions from experienced professionals in different areas of expertise. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

The journal entry to transfer completed products from production to finished goods inventory includes which two of the following? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
Debit to Finished Goods Inventory ?
Credit to Work in Process Inventory ?
Credit to Finished Goods Inventory ?
Debit to Work in Process Inventory ?
Debit to Raw Materials Inventory ?
Credit to Raw Materials Inventory ?

Sagot :

abiolataiwo2015

Answer:

Debit finished goods inventory

Credit Work in Process Inventory

Explanation:

The journal entry that is required to transfer the completed products from the production stage to finished goods inventory which is the amount of goods in the inventory that have been produced and as well is available and ready for customer to buy will includes to Debit finished goods inventory and to Credit Work in Process. Inventory

Debit finished goods inventory

Credit Work in Process Inventory

(Being to record finished goods inventory)

We hope this was helpful. Please come back whenever you need more information or answers to your queries. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.