Answered

At Westonci.ca, we provide reliable answers to your questions from a community of experts. Start exploring today! Connect with a community of experts ready to provide precise solutions to your questions on our user-friendly Q&A platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

The costs of a completed job are transferred from the work-in-process inventory account to the finished goods inventory account.
a. True
b. False

Sagot :

Answer: True

Explanation:

The materials that are used during production consist of the beginning raw materials inventory and the purchases, which is less the ending inventory. Then, this amount will be added to work in process inventory.

It should be noted that for the cost of the goods sold, when the job is completed, the costs will be transferred from the work in process inventory to the finished goods inventory.

Therefore, the answer is true.

Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.