The balances on the job cost sheets of uncompleted jobs will be equal to the balance in the

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The balances on the job cost sheets of uncompleted jobs will be equal to the balance in the Work in Process Inventory account, as this account reflects the cost of all incomplete jobs in progress. Finished Goods Inventory account is used to record the cost of completed jobs, Cost of Goods Sold account represents the cost of goods sold during a period, and Overhead account records indirect costs that cannot be directly traced to a specific job.

The Balances on the Job Cost Sheets of Uncompleted Jobs