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During March, XYZ Inc. transferred $50,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $56,000. The journal entries to record these transactions would include a:
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During March, XYZ Inc. transferred $50,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $56,000. The journal entries to record these transactions would include a:

User Ezer K
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1 Answer

16 votes
16 votes

Answer:

Date Journal entries Debit Credit

Finished Goods $50,000

Work in Process $50,000

Cost of Goods Sold $56,000

Finished Goods $56,000

User Mborsuk
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