Under a Just-In-Time Costing System, the Journal Entry That Is $\begin{array}{|l|} \hline \text { Finished Goods Inventory} \\ \hline \text { Raw and In-Process Inventory } \\\hline \end{array}$

question 29

Multiple Choice

Under a just-in-time costing system, the journal entry that is recorded when the goods are completed and moved to Finished Goods Inventory is ________.

• A) \(\begin{array}{|l|}
• \hline \text { Finished Goods Inventory} \\
• \hline \text { Raw and In-Process Inventory } \\
• \hline
• \end{array}\)
• B) \(\begin{array}{|l|}
• \hline \text { Finished Goods Inventory} \\
• \hline \text { Raw and In-Process Inventory } \\
• \hline \text { Conversion Costs}\\
• \hline
• \end{array}\)
• C) \[\begin{array} { | l | }
• \hline \text { Finished Goods Inventory } \\
• \hline \text { Conversion Costs } \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | }
• \hline \text {Raw and In-Process Inventory} \\
• \hline \text { Conversion Costs } \\
• \hline \text {Finished Goods Inventory}\\
• \hline
• \end{array}\]

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Definitions:

Dividing

The mathematical operation of partitioning a numerical value into specified groups or sections, resulting in a quotient.

Function

In programming, a reusable piece of code designed to perform a specific task, taking some inputs and returning an output.

Report

A structured presentation of data retrieved from a database or other data sources, often formatted for easy analysis or decision-making.

Label

An element in user interfaces used to display text to the user, often describing another interface control.