Potts Company uses a job order costing system and had the following data available for 2009.

- The journal entry to transfer completed goods to the finished goods inventory account would include which of the following?

Question

Potts Company uses a job order costing system and had the following data available for 2009.
 
- The journal entry to transfer completed goods to the finished goods inventory account would include which of the following?

Quizplus · Accepted Answer

When goods are completed, the cost is transferred from the Work in Process Inventory to the Finished Goods Inventory. Therefore, you debit Finished Goods Inventory for the cost of the completed goods, which is $226,750.

Potts Company Uses a Job Order Costing System and Had