On January 1, Feldstein Manufacturing had a beginning balance in Work-in-Process Inventory of $80,900 and a beginning balance in Finished Goods Inventory of $22,600. During the year, Feldstein incurred manufacturing costs of $351,600. During the year, the following transactions occurred: Job A-12 was completed for a total cost of $120,100 and was sold for $126,500. Job A-13 was completed for a total cost of $202,800 and was sold for $210,300. Job A-15 was completed for a total cost $64,000 but was not sold as of year-end. What was the balance in Finished Goods Inventory at the end of the year? A. $86,600 credit balance OB. $86,600 debit balance C. $409,500 debit balance D. $386,900 debit balance *

On January 1, Feldstein Manufacturing had a beginning balance in Work-in-Process Inventory of $80,900 and a beginning balance in Finished Goods Inventory of $22,600. During the year, Feldstein incurred manufacturing costs of $351,600. During the year, the following transactions occurred: Job A-12 was completed for a total cost of $120,100 and was sold for $126,500. Job A-13 was completed for a total cost of $202,800 and was sold for $210,300. Job A-15 was completed for a total cost $64,000 but was not sold as of year-end. What was the balance in Finished Goods Inventory at the end of the year? A. $86,600 credit balance OB. $86,600 debit balance C. $409,500 debit balance D. $386,900 debit balance *

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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