The journal entry to record cost of goods sold would include a:
A) Debit to Finished Goods Inventory
B) Credit to Work-in -Process Inventory
C) Credit to Cost of Goods Sold
D) Credit to Finished Goods Inventory

Question

Quizplus · Accepted Answer

The journal entry to record cost of goods sold includes a debit to Cost of Goods Sold and a credit to Finished Goods Inventory, as it reflects the transfer of costs from inventory to expense.

The Journal Entry to Record Cost of Goods Sold Would