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H3Ko H3Ko
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7 years ago
On January 1, Feldstein Manufacturing had a beginning balance in Work-in-Process Inventory of $81,100 and a beginning balance in Finished Goods Inventory of $22,000. During the year, Feldstein incurred manufacturing costs of $351,000.

During the year, the following transactions occurred:
Job A-12 was completed for a total cost of $121,100 and was sold for $126,700.
Job A-13 was completed for a total cost of $201,800 and was sold for $211,000.
Job A-15 was completed for a total cost $60,000 but was not sold as of year-end.

What was the balance in Finished Goods Inventory at the end of the year?
A) $82,000 debit balance
B) $382,900 debit balance
C) $404,900 debit balance
D) $82,000 credit balance
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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#2
7 years ago
I just realized you had posted this! Thanks so much
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#3
3 years ago
thank you
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