Schoff Corporation has provided the following data for the most recent month: 
Required:
Prepare T-accounts for Raw Materials,Work in Process,Finished Goods,Manufacturing Overhead,and Cost of Goods Sold.Record the beginning balances and each of the transactions listed above.Finally,determine the ending balances.
Definitions:
Double-Entry Bookkeeping System
An accounting method that records each transaction as both a debit and a credit in different accounts, ensuring the accounting equation stays balanced.
Single-Entry System
A rudimentary accounting method where entries are made in a single record, typically focusing only on cash flow and personal accounts.
Computerized Ledger System
A digital system for recording the financial transactions of a business or organization, providing an organized way to store, manage, and report financial data.
Business Transaction
An economic event or condition that changes an entity's financial statements, involving the exchange of goods, services, or funds.
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