PHI Company began its operations on January 1 and produces a single product that sells for $35.00 per unit. 5,000 units were produced and 4,000 units were sold during the year. Standard costs per unit follow: What is entry to record the finished goods?

Question

PHI Company began its operations on January 1 and produces a single product that sells for $35.00 per unit. 5,000 units were produced and 4,000 units were sold during the year. Standard costs per unit follow:  What is entry to record the finished goods?

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The Answer of PHI Company began its operations on January 1 and produces a single product that sells for $35.00 per unit. 5,000 units were produced and 4,000 units were sold during the year. Standard costs per unit follow:  What is entry to record the finished goods?

PHI Company Began Its Operations on January 1 and Produces