Question: Drew Manufacturing has two processes Casting and Assembly. The company assigned $90,000 to the 500 units transferred from Assembly Department to Finished Goods Inventory. The
Drew Manufacturing has two processes Casting and Assembly. The company assigned $90,000 to the 500 units transferred from Assembly Department to Finished Goods Inventory. The journal entry to record this assignment of cost is ________.
A. debit Cost of Goods Sold, $90,000; credit Finished Goods Inventory, $90,000
B. debit Finished Goods Inventory, $90,000; credit WorkinProcess InventoryAssembly, $90,000
C. debit WorkinProcess InventoryAssembly, $90,000; credit Finished Goods Inventory, $90,000
D. debit Finished Goods Inventory, $90,000; credit Cost of Goods Sold, $90,000
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