ABC produces ping-pong balls using a three-step process that includes molding, colouring and finishing. Which account is debited when the balls are totally completed?

Question

Quizplus · Accepted Answer

When the ping-pong balls are totally completed, they are transferred from the WIP inventory to the finished goods inventory. Therefore, the finished goods inventory account should be debited.

ABC Produces Ping-Pong Balls Using a Three-Step Process That Includes