At January 1, 2015, Feldstein Manufacturing Had a Beginning Balance

question 108

Multiple Choice

At January 1, 2015, Feldstein Manufacturing had a beginning balance in Work-in-Process Inventory of $80,000 and a beginning balance in Finished Goods Inventory of $20,000. During the year, Feldstein incurred manufacturing costs of $350,000. During the year, the following transactions occurred:
Job A-12 was completed for a total cost of $120,000 and was sold for $125,000.
Job A-13 was completed for a total cost of $200,000 and was sold for $210,000.
Job A-15 was completed for a total cost $60,000, but was not sold as of year-end.
At the end of the year, what was the balance in Finished Goods Inventory?

• A)$60,000 debit balance
• B)$40,000 credit balance
• C)$80,000 debit balance
• D)$30,000 debit balance

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