During February,Degan Inc.transferred $60,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $65,000.The journal entries to record these transactions would include a:
A)debit to Finished Goods of $65,000
B)credit to Cost of Goods Sold of $65,000
C)credit to Work in Process of $60,000
D)credit to Finished Goods of $60,000

Question

Quizplus · Accepted Answer

The transfer from Work in Process to Finished Goods is recorded by crediting Work in Process for $60,000.