Calculate the financial effect of a goods issue posting based on the following data.Procurement type: Internal Materials: Pens
Quantity shipped: 100
Valuation price at the receiving plant for one pen) : $2.30
Valuation price at the sending plant for one pen) : $2.40
A) Debit GR/IR,credit inventory for $230.00.
B) Debit inventory,credit COGS for $240.00.
C) Debit inventory,credit GR/IR for $230.00.
D) Debit and credit to the inventory account for $240.00.
E) No financial effect takes place at this step,so no FI document is created.
Correct Answer:
Verified
Q25: The goods receipt step in production involves
Q26: Identify the step in the procurement process
Q27: Shipping,billing,and payment are steps in which process?
A)Warehouse
Q28: In a make-to-order strategy the production of
Q29: Identify the GL entries that are posted
Q31: Receive invoice is a step in which
Q32: What is the FI effect of a
Q33: In the procurement process,a purchase requisition is
Q34: In which of the following processes is
Q35: In a plant-to-plant movement,valuation occurs at
A)Goods issue
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents