O'Hare Company,is a manufacturing firm that uses a job-order cost system to determine the costs of its products.During 2014the current accounting period,O'Hare transferred total product costs for job #132,to finished goods inventory.The recognition of this event would:

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The transfer of total product costs to finished goods increases the asset account Finished Goods Inventory and decreases the asset account Work in Process Inventory.It is an asset exchange transaction and,as such,has no impact on total assets.

O'Hare Company,is a Manufacturing Firm That Uses a Job-Order Cost