When Smith Builder's Designer House #201 is completed,Smith's
A)Work in Process Inventory is increased.
B)total assets are increased.
C)Work in Process Inventory is decreased.
D)total assets are decreased.

Question

Quizplus · Accepted Answer

When a project like Designer House #201 is completed, it moves out of Work in Process Inventory, decreasing this specific inventory account as costs are transferred to a finished goods account or directly to cost of goods sold if the house is sold.

When Smith Builder's Designer House #201 Is Completed,Smith's