Lexington Lumber Co. processes rough timber to obtain three grades of finished lumber, A, B, and C.

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Lexington Lumber Co. processes rough timber to obtain three grades of finished lumber, A, B, and C. The company allocates costs to the joint products on the basis of market value. During the month of May, Lexington incurred total production costs of $300,000 in producing the following:

Lexington Lumber Co. processes rough timber to obtain three grad

Make the journal entry to transfer the finished lumber to separate inventory accounts for eachproduct.

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Principles Of Cost Accounting

ISBN: 9780840037039

15th Edition

Authors: Edward J. Vanderbeck

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