Asked by Li-Yun Chang on May 12, 2024
Verified
Manufactured goods transferred out of work in process become part of finished goods inventory.
Work in Process
Inventory that includes goods that are in the process of being manufactured but are not yet complete.
Finished Goods Inventory
Manufactured goods that are complete and ready for sale.
- Identify the flow of goods from production to finished goods inventory.
Verified Answer
ES
Eyyan ShinnMay 13, 2024
Final Answer :
True
Explanation :
This is correct as manufactured goods that have been completed in the work in process stage are transferred to the finished goods inventory.
Learning Objectives
- Identify the flow of goods from production to finished goods inventory.
Related questions
In a Job-Order Costing System, the Amount of Overhead Cost ...
In a Job-Order Costing System, the Use of Direct Materials ...
Which Inventory Account Consists of Products Currently Being Processed ...
The Cost of Direct Materials Transferred into the Bottling Department ...
The Cost Per Equivalent Unit of Direct Materials and Conversion ...