Nancy & Kary Corp., follow the Weighted-Average method of inventory valuation. The total cost of units completed and removed from Work-in-Progress (WIP) Inventory is $10,800, and the total cost of units in ending WIP Inventory is $640. What will be the Journal Entry for recording the costs of units completed and moved out of the WIP Inventory if the data pertains to the grinding process and the next process is the fermenting process?

Question

Quizplus · Accepted Answer

The total cost of units completed and moved to WIP Inventory-Fermenting is $10,800.