Question

The costs of a completed job are transferred from the work-in-process inventory account to the finished goods inventory account.

Answer 1

Answer: True

Explanation:

The materials that are used during production consist of the beginning raw materials inventory and the purchases, which is less the ending inventory. Then, this amount will be added to work in process inventory.

It should be noted that for the cost of the goods sold, when the job is completed, the costs will be transferred from the work in process inventory to the finished goods inventory.

Therefore, the answer is true.