When a unit of product is completed, the correct accounting entry to record this is to
A) debit Work In Process (WIP) Inventory and credit Finished Goods (FG) Inventory
B) debit Finished Goods (FG) Inventory and credit Work In Process (WIP) Inventory
C) debit Work In Process (WIP) Inventory and credit Raw Materials Inventory
D) debit Finished Goods (FG) Inventory and credit Raw Materials Inventory

Question

Quizplus · Accepted Answer

When a unit of good is completed, the correct accounting entry to record this is to debit Finished Goods (FG) Inventory and credit Work In Process (WIP) Inventory.

When a Unit of Product Is Completed, the Correct Accounting