Halitosis Company completed job 45 at a cost of $43,765 and later sold it for $90,000 cash.Which one of the following is one effect of selling the job?

Question

Quizplus · Accepted Answer

When a company sells a job that it has completed, the cost of the job is removed from the Finished Goods Inventory. This is done by crediting Finished Goods Inventory for the cost of the job, which in this case is $43,765.

Halitosis Company Completed Job 45 at a Cost of $43,765