As goods are completed their cost is transferred from the Work in Process account to the Finished Goods account where they await sale to customer.

Name: As goods are completed their cost is transferred from the Work in Process account to the Finished Goods account where they await sale to customer.
Brand: Quizplus
Rating: 4.9 (42 reviews)

Question

Quizplus · Accepted Answer

This statement is true. Cost of completed goods is transferred from the Work in Process account to the Finished Goods account where they are held until they are sold to customers.

As Goods Are Completed Their Cost Is Transferred from the Work