Regardless of the product costing system used,when the products are completed,they are transferred from work in process inventory to finished goods inventory.

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Quizplus · Accepted Answer

This statement is true. Once the products have been completed, they are transferred from work in process inventory to finished goods inventory. This transfer typically occurs when all of the direct materials, direct labor, and manufacturing overhead costs have been added to the product, and it is ready to be sold or used. This transfer is an important step in the manufacturing process, as it marks the transition from the production phase to the sales phase.

Regardless of the Product Costing System Used,when the Products Are