Peter Senen operates in a JIT manufacturing system. For August, Peter Senen purchased 10,000 units of raw materials at P1.00 per unit on account. The journal entry to record the transaction using the three triggers points is: b. Dr. COGS 10,000 Cr. Accounts Payable 10,000 d. Dr. Raw Material Inventory 10,000 Cr. Accounts Payable 10,000 a. Dr. RIP Inventory P10,000 Cr. Accounts Payable P10,000 c. No Entry

Peter Senen operates in a JIT manufacturing system. For August, Peter Senen purchased 10,000 units of raw materials at P1.00 per unit on account. The journal entry to record the transaction using the three triggers points is: b. Dr. COGS 10,000 Cr. Accounts Payable 10,000 d. Dr. Raw Material Inventory 10,000 Cr. Accounts Payable 10,000 a. Dr. RIP Inventory P10,000 Cr. Accounts Payable P10,000 c. No Entry

Name: Peter Senen operates in a JIT manufacturing system. For August, Peter
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Description: Peter Senen operates in a JIT manufacturing system. For August, Peter Senen purchased 10,000 units of raw materials at P1.00 per unit on account. The journal entry to record the transaction using the three triggers points is: b. Dr. COGS 10,000 Cr. A

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 4EB: Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials...

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