During October Beldleman Inc transferred 64900 from Work in

During October, Beldleman Inc. transferred $64,900 from Work in Process to Finished Goods and recorded ea Cost of Goods Sold of $70,660. The journal entries to record these transactions would include a: debit to Finished Goods of $70.660 O credit to Finished Goods of $64,900 O credit to Work in Process of $64,900 O credit to Cost of Goods Sold of $70.660

Solution

Solution: Answer is 3rd option credit to Work in Process of $64,900 Working Notes: Journal Entry to transferred from WIP to finished goods & record Cost of goods sold. General Journal Debit Credit Finished goods 64,900 Work in process 64,900 Cost of goods sold 70,660 Finished goods 70,660 we credited WIP with 64,990, to completed the recording of these transactions. Please feel free to ask if anything about above solution in comment section of the question.