Helen Company uses a job-order costing system and has the following data available: The journal entry to record the cost of goods completed would include a ________.
A)credit to Finished Goods Inventory for $292,000
B)credit to Cost of Goods Sold for $256,000
C)debit to Work-in-process Inventory for $256,000
D)credit to Work-in-process Inventory for $292,000

Question

Helen Company uses a job-order costing system and has the following data available:  The journal entry to record the cost of goods completed would include a ________.
A)credit to Finished Goods Inventory for $292,000 
B)credit to Cost of Goods Sold for $256,000 
C)debit to Work-in-process Inventory for $256,000 
D)credit to Work-in-process Inventory for $292,000

Quizplus · Accepted Answer

The Answer of Helen Company uses a job-order costing system and has the following data available:  The journal entry to record the cost of goods completed would include a ________.
A)credit to Finished Goods Inventory for $292,000 
B)credit to Cost of Goods Sold for $256,000 
C)debit to Work-in-process Inventory for $256,000 
D)credit to Work-in-process Inventory for $292,000

Helen Company Uses a Job-Order Costing System and Has the Following