When a job is completed, its cost is removed from the Work in Process Inventory account and added to Cost of Goods Sold.

Name: When a job is completed, its cost is removed from the Work in Process Inventory account and added to Cost of Goods Sold.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When a job is completed, its cost is removed from the Work in Process Inventory account and added to the Finished Goods Inventory account, not directly to Cost of Goods Sold. It is only transferred to Cost of Goods Sold when the finished goods are sold.

When a Job Is Completed, Its Cost Is Removed from the Work