For each of the following accounts,indicate what event causes the account to increase and to decrease.The answer is not debit or credit.
$$\begin{array} { | l | l | l | }
\hline \text { Account } & \text { Is increased by: } & \text { Is decreased by: } \
\hline \text { Raw Materials } & & \
\hline \text { Work-in-Process } & & \
\text { Inventory } & & \
\hline \text { Finished Goods } & & \
\text { Inventory } & & \
\hline \text { Cost of Goods Sold } & & \
\hline
\end{array}$$

Question

For each of the following accounts,indicate what event causes the account to increase and to decrease.The answer is not debit or credit.
 $$\begin{array} { | l | l | l | } 
\hline \text { Account } & \text { Is increased by: } & \text { Is decreased by: } \
\hline \text { Raw Materials } & & \
\hline \text { Work-in-Process } & & \
\text { Inventory } & & \
\hline \text { Finished Goods } & & \
\text { Inventory } & & \
\hline \text { Cost of Goods Sold } & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer is

\begin{array} { | l | l | l | } \hline ext { Account } & ext { Is increased by: } & ext { Is decreased by: } \\hline ext { Raw Materials Inventory } & ext { Materials purchased } & ext { Materials used } \\hline ext { Work-in-Process Inventory } & \begin{array} { l } ext { Direct materials used } \ ext { Direct labor incurred } \ ext { Manufacturing overhead } \ ext { allocated }\end{array} & ext { Completion of jobs } \\hline ext { Finished Goods Inventory } & ext { Completion of jobs } & ext { Shipping of sold units } \\hline ext { Cost of Goods Sold } & \begin{array} { l } ext { Shipping of sold units } \ ext { Adjusting entry }\end{array} & ext { Adjusting entry } \\hline\end{array}

For Each of the Following Accounts,indicate What Event Causes the Account