In a just-in-time costing system, the entry to record the standard cost of finished goods completed would include which of the following?
A) Debit to finished goods inventory
B) Debit to conversion costs
C) Debit to cost of goods sold
D) Credit to sales

Question

Quizplus · Accepted Answer

In a just-in-time costing system, the entry to record the standard cost of finished goods completed would include a debit to finished goods inventory as it represents a cost incurred by the manufacturer. The other options are not relevant in this context.

In a Just-In-Time Costing System, the Entry to Record the Standard