The cost of goods completed during a period is transferred from the Finished Goods Inventory account to Cost of Goods Sold.

Name: The cost of goods completed during a period is transferred from the Finished Goods Inventory account to Cost of Goods Sold.
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The cost of goods completed during a period is transferred from the Work in Process Inventory account to the Finished Goods Inventory account. Cost of Goods Sold is recorded when the finished goods are actually sold.

The Cost of Goods Completed During a Period Is Transferred