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  • Apr 11, 2007, 07:37 PM
    jrodgers
    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.
  • Apr 13, 2007, 02:57 AM
    goldenbutterfly
    Correct

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