Which of the Following Journal Entries Correctly Represents the Transfer $\begin{array} { l } \text { Finished Goods}&503,100 \\ \text {Work in Process }&503,100 \\\end{array}$

question 32

Multiple Choice

Which of the following journal entries correctly represents the transfer of completed goods begun during February using the FIFO method of process costing?

• A)\(\begin{array} { l }
• \text { Finished Goods}&503,100 \\ \text {Work in Process }&503,100 \\
• \end{array}\)
• B)\(\begin{array} { l }
• \text {Loss from Spoilage }&37,440 \\ \text { Finished Goods }&37,440 \\
• \end{array}\)
• C)\(\begin{array} { l }
• \text { Finished Goods}& 922,410\\ \text {Work in Process }&922,410 \\
• \end{array}\)
• D) \(\begin{array} { l }
• \text { Finished Goods}&398,250 \\ \text {Work in Process }&398,250 \\
• \end{array}\)

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