What Is the Ending Work in Process Inventory

question 27

Multiple Choice

What is the ending Work in Process inventory?

• A) $7,575.
• B) $5,350.
• C) $4,325.
• D) $5,150.Job 4 = EI = 750 + 4,000 + 400 + 40 hrs @ $5/hr = $5,350.

Calculate net purchases and cost of goods purchased under a periodic inventory system.

Differentiate between GAAP and IFRS in classification and presentation of income statement items.

Analyze the impact of inventory transactions on the income statement and related accounting entries.

Prepare comprehensive and single-step income statements, including adjustments and closing entries.