Under a just-in-time costing system,the journal entry that is recorded when the goods are completed and moved to Finished Goods Inventory is ________.
A) Finished Goods Inventory
Raw and In-Process Inventory
B) Finished Goods Inventory
Raw and In-Process Inventory
Conversion Costs
C) $$\begin{array} { | l | }
\hline \text { Finished Goods Inventory } \
\hline \text { Conversion Costs } \
\hline
\end{array}$$
D) Raw and In-Process Inventory
Conversion Costs
Finished Goods Inventory

Question

Under a just-in-time costing system,the journal entry that is recorded when the goods are completed and moved to Finished Goods Inventory is ________.
A) Finished Goods Inventory
Raw and In-Process Inventory
B) Finished Goods Inventory
Raw and In-Process Inventory
Conversion Costs
C) $$\begin{array} { | l | } 
\hline \text { Finished Goods Inventory } \
\hline \text { Conversion Costs } \
\hline
\end{array}$$
D) Raw and In-Process Inventory
Conversion Costs
Finished Goods Inventory

Quizplus · Accepted Answer

Under a just-in-time costing system, the journal entry that is recorded when the goods are completed and moved to Finished Goods Inventory is to debit Finished Goods Inventory and credit Raw and In-Process Inventory and Conversion Costs.

Under a Just-In-Time Costing System,the Journal Entry That Is Recorded Finished Goods Inventory Conversion Costs \begin{array} { | l | } \hline \text { Finished Goods Inventory } \\\hline \text { Conversion Costs } \\\hline\end{array} Finished Goods Inventory Conversion Costs ​​

Under a Just-In-Time Costing System,the Journal Entry That Is Recorded $\begin{array} { | l | } \hline \text { Finished Goods Inventory } \\\hline \text { Conversion Costs } \\\hline\end{array}$