Compute the Work-in-Process transferred to the finished goods warehouse on April 30 using the following information:

Question

Quizplus · Accepted Answer

To compute the Work-in-Process transferred to finished goods warehouse we need to calculate the cost of goods manufactured (COGM) and subtract the cost of goods sold (COGS) during the month. 
COGM = Beginning WIP Inventory + Total Manufacturing Costs - Ending WIP Inventory 
COGM = $300 + $1000 - $400 = $900 
COGS = Beginning Finished Goods Inventory + COGM - Ending Finished Goods Inventory 
COGS = $200 + $900 - $400 = $700 
Therefore, the Work-in-Process transferred to finished goods warehouse on April 30 is $700.

Compute the Work-In-Process Transferred to the Finished Goods Warehouse on April