Recording transferred-in costs requires a debit to the Finished Goods inventory account and a credit to a Work in Process account.

Name: Recording transferred-in costs requires a debit to the Finished Goods inventory account and a credit to a Work in Process account.
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Recording transferred-in costs typically involves a debit to the Work in Process account for the receiving department and a credit to the Work in Process account of the sending department, not a debit to Finished Goods inventory.

Recording Transferred-In Costs Requires a Debit to the Finished Goods