In process costing, the journal entry to transfer completed work in process to finished goods involves debiting the Work in Process Inventory and crediting the Finished Goods Inventory.
The journal entry to record the transfer of completed work in process to finished goods in process costing is to:
When work in process (WIP) is completed and transferred to finished goods in process costing, it is represented by debiting the Work in Process Inventory account and crediting the Finished Goods Inventory account.
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