Which accounts are affected when a job is completed and remains in inventory?

Name: Which accounts are affected when a job is completed and remains in inventory?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When a job is completed and remains in inventory, it moves from work in process to finished goods, which means work in process and finished goods accounts are affected. Raw materials are already consumed in the production process, so they are not affected, and cost of goods sold is not impacted until the goods are sold.

Which Accounts Are Affected When a Job Is Completed and Remains