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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 Lefakir
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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 Tom Melo
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