a company transferred completed goods from the assembly department to finished goods inventory. the goods…

a company transferred completed goods from the assembly department to finished goods inventory. the goods cost $271,200. the journal entry to record this production activity includes a: multiple choice debit to finished goods inventory for $271,200. debit to work in process inventory - assembly for $271,200. credit to finished goods inventory for $271,200. credit to raw materials inventory for $271,200. debit to cost of goods sold for $271,200.

a company transferred completed goods from the assembly department to finished goods inventory. the goods cost $271,200. the journal entry to record this production activity includes a: multiple choice debit to finished goods inventory for $271,200. debit to work in process inventory - assembly for $271,200. credit to finished goods inventory for $271,200. credit to raw materials inventory for $271,200. debit to cost of goods sold for $271,200.

Answer

Brief Explanations:

When completed goods are transferred from the Assembly department to finished goods inventory, the finished goods inventory account is increased (debited) and the work - in - process inventory of the Assembly department is decreased (credited). The cost of the goods transferred is debited to the Finished Goods Inventory account.

Answer:

A. Debit to Finished Goods Inventory for $271,200