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Question
The cost of production of completed and transferred goods during the period amounted to $540,000, and the finished products shipped to customers had production costs of $375,000. The journal entry for the transfer of costs from finished goods to cost of goods sold is
a. Finished Goods 540,000
Cost of Goods Sold 540,000
b. Finished Goods 375,000
Cost of Goods Sold 375,000
c. Cost of Goods Sold 375,000
Finished Goods 375,000
d. Cost of Goods Sold 540,000
Finished Goods 540,000
Answer
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