Multiple Choice
Winnie,Inc.has two processes-Coloring Department and Mixing Department.The company assigned $300,000 to the 3,500 gallons of paint transferred from Mixing Department to Finished Goods Inventory.The journal entry to record completion of processing is ________.
A) debit Work-in-Process Inventory-Mixing, $300,000; credit Finished Goods Inventory, $300,000
B) debit Finished Goods Inventory, $300,000; credit Cost of Goods Sold, $300,000
C) debit Cost of Goods Sold, $300,000; credit Finished Goods Inventory, $300,000
D) debit Finished Goods Inventory, $300,000; credit Work-in-Process Inventory-Mixing, $300,000
Correct Answer:
Verified
Correct Answer:
Verified
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