Question:In BAC Company, Job No. 26 is completed at a cost of  `4,500 and later sold for`7,000 cash. A correct entry is: 

A Debit Finished Goods Inventory `7,000 and credit Work in Process Inventory`7,000. 
B Debit Cost of Goods Sold `7,000 and credit Finished Goods Inventory`7,000. 
C Debit Finished  Goods Inventory `4500 and credit Work in Process Inventory`4500. 
D Debit Accounts Receivable `7000 and credit Sales`7000. 

+ Answer
C 

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Md. Saydul Alam

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