The following inventory data relate to the Reta Company: Revenues and costs for the period: Prepare journal entries for the following, making any necessary computations:
a.Purchase of materials on account
b.Issuance of materials into production
c.Transfer the cost of completed work to Finished Goods
d.Record the sale of the goods on account and the related cost of goods sold.

Question

The following inventory data relate to the Reta Company:  Revenues and costs for the period:  Prepare journal entries for the following, making any necessary computations: 
a.Purchase of materials on account
b.Issuance of materials into production
c.Transfer the cost of completed work to Finished Goods
d.Record the sale of the goods on account and the related cost of goods sold.

Quizplus · Accepted Answer

The Answer of The following inventory data relate to the Reta Company:  Revenues and costs for the period:  Prepare journal entries for the following, making any necessary computations: 
a.Purchase of materials on account
b.Issuance of materials into production
c.Transfer the cost of completed work to Finished Goods
d.Record the sale of the goods on account and the related cost of goods sold.

The Following Inventory Data Relate to the Reta Company