Which accounts are affected when a job is completed and remains in inventory?
A) Raw Materials Inventory and Cost of Goods Sold
B) Finished Goods Inventory and Cost of Goods Sold
C) Raw Materials Inventory and Work-in-Process Inventory
D) Work-in-Process Inventory and Finished Goods Inventory

Question

Quizplus · Accepted Answer

When a job is completed, the costs are transferred from Work-in-Process Inventory to Finished Goods Inventory, indicating that the job is now complete and ready for sale but still in inventory.

Which Accounts Are Affected When a Job Is Completed and Remains