During October, Beidleman Inc. transferred $64,100 from Work in Process to Finis

Question

During October, Beidleman Inc. transferred $64,100 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $69,210. The journal entries to record these transactions would include a:

credit to Work in Process of $64,100

credit to Cost of Goods Sold of $69,210

debit to Finished Goods of $69,210

credit to Finished Goods of $64,100

During October, Beidleman Inc. transferred $64,100 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $69,210. The journal entries to record these transactions would include a:

Explanation / Answer

credit to Work in Process of $64,100

because work in process is moving to Finished Goods

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