The total costs on job cost sheets for jobs that are not yet completed equals the balance in the Finished Goods Inventory account.

Question

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The Finished Goods Inventory account contains costs of completed jobs that are ready for sale, not costs of jobs that are still in production. Therefore, the total costs on job cost sheets for completed jobs should equal the balance in the Finished Goods Inventory account.

The Total Costs on Job Cost Sheets for Jobs That