Suppose That Finished Units Are Now in the Last (Final)department

question 56

Multiple Choice

Suppose that finished units are now in the last (final) department.To which account will the cost of the finished units flow from the work-in-process account?

• A)sales
• B)finished goods
• C)inventory
• D)cost of goods sold

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Definitions:

Medusa

A jellyfish-like animal; a free-swimming, umbrella-shaped stage in the life cycle of certain cnidarians. Compare with polyp.

Planula

The free-swimming, ciliated larva form of certain cnidarians, such as jellyfish, before it settles on a surface and develops into a polyp.

Miracidium

A free-swimming larval stage in the life cycle of certain parasitic flukes, hatching from eggs and infecting the first intermediate host, typically a snail.

Polyp Colony

An aggregation of many individual, yet genetically identical, polyps that are connected, forming organisms such as corals.