Under the just-in-time costing system,a credit purchase of raw materials is recorded by ________.
A)debiting the Raw Materials Inventory account
B)crediting the Conversion Costs account
C)debiting the Raw and In-Process Inventory account
D)crediting the Cash account

Question

Quizplus · Accepted Answer

In a just-in-time costing system, raw materials are directly debited to the Raw and In-Process Inventory account when purchased, reflecting their immediate use in production.

Under the Just-In-Time Costing System,a Credit Purchase of Raw Materials