Under a just-in-time costing system, the journal entry that is recorded when the goods are completed and moved to Finished Goods Inventory is ________.
A) $\begin{array}{|l|}
\hline \text { Finished Goods Inventory} \
\hline \text { Raw and In-Process Inventory } \
\hline
\end{array}$

B) $\begin{array}{|l|}
\hline \text { Finished Goods Inventory} \
\hline \text { Raw and In-Process Inventory } \
\hline \text { Conversion Costs}\
\hline
\end{array}$

C) $$\begin{array} { | l | }
\hline \text { Finished Goods Inventory } \
\hline \text { Conversion Costs } \
\hline
\end{array}$$
D) $$\begin{array} { | l | }
\hline \text {Raw and In-Process Inventory} \
\hline \text { Conversion Costs } \
\hline \text {Finished Goods Inventory}\
\hline
\end{array}$$

Question

Under a just-in-time costing system, the journal entry that is recorded when the goods are completed and moved to Finished Goods Inventory is ________.
A) $\begin{array}{|l|}
  \hline \text {  Finished Goods Inventory} \
 \hline \text { Raw and In-Process Inventory } \
\hline 
\end{array}$

B) $\begin{array}{|l|}
  \hline \text {  Finished Goods Inventory} \
 \hline \text { Raw and In-Process Inventory } \
 \hline \text {  Conversion Costs}\
\hline 
\end{array}$

C) $$\begin{array} { | l | } 
\hline \text { Finished Goods Inventory } \
\hline \text { Conversion Costs } \
\hline
\end{array}$$
D) $$\begin{array} { | l | } 
\hline \text {Raw and In-Process Inventory} \
\hline \text { Conversion Costs } \
\hline \text {Finished Goods Inventory}\
\hline
\end{array}$$

Quizplus · Accepted Answer

In a just-in-time costing system, when goods are completed, the costs are transferred from Raw and In-Process Inventory and Conversion Costs to Finished Goods Inventory.