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    jrodgers's Avatar
    jrodgers Posts: 9, Reputation: 1
    New Member
    		  
    #1

    Apr 11, 2007, 07:37 PM
    Finished Goods transfer Goods Sold
    The cost of production of completed and finished goods during the period amounted to $400,000, and the finished products shipped to customers had total production costs of $337,000. From the following, select the entry to record the transfer of costs from finished goods to cost of goods sold.

    I think it would be Dr Cost of Goods Sold $337,000 and Cr Finished Goods for $337,000, but would like a sanity check.
    goldenbutterfly's Avatar
    goldenbutterfly Posts: 63, Reputation: 8
    Junior Member
    		  
    #2

    Apr 13, 2007, 02:57 AM
    Correct
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