When a product has completed the manufacturing process what is the journal entry to record the transfer of its cost?
A)debit to Cost of Goods Sold credit Work-in-Process
B)debit to Finished Goods credit of Work-in-Process
C)debit to Cost of Good Sold credit to Finished Goods Inventory
D)debit to Work-in-Process Inventory credit to Finished Good Inventory

Question

Quizplus · Accepted Answer

When a product has completed the manufacturing process, its cost is transferred from Work-in-Process (WIP) to Finished Goods Inventory. This is reflected by debiting Finished Goods and crediting Work-in-Process.

When a Product Has Completed the Manufacturing Process What Is