On January 1,Feldstein Manufacturing Had a Beginning Balance in Work-In-Process

On January 1,Feldstein Manufacturing had a beginning balance in Work-in-Process Inventory of $82,400 and a beginning balance in Finished Goods Inventory of $20,500.During the year,Feldstein incurred manufacturing costs of $350,700. During the year,the following transactions occurred:
Job A-12 was completed for a total cost of $120,000 and was sold for $125,500.
Job A-13 was completed for a total cost of $200,100 and was sold for $210,800.
Job A-15 was completed for a total cost $66,000 but was not sold as of year-end.
What was the balance in Finished Goods Inventory at the end of the year?

A) $406,600 debit balance
B) $86,500 credit balance
C) $86,500 debit balance
D) $386,100 debit balance

Correct Answer:

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