The journal entry to record the completion of the production process for a manufacturing firm includes a debit to Cost of Goods Sold.

Name: The journal entry to record the completion of the production process for a manufacturing firm includes a debit to Cost of Goods Sold.
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Question

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The completion of product results in a transfer out of a Work in Process account to Finished Goods inventory. Thus, the debit would be to Finished Goods Inventory.

The Journal Entry to Record the Completion of the Production