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25 January, 02:24

The Finishing Department of Parker and King , Inc., the last department in the manufacturing process, incurred production costs of $ 180 comma 000 during the month of June. If the June 1 balance in Work-in-Process Inventorylong dashFinishing is $0 and the June 30 balance is $ 45 comma 000 , what amount was transferred to Finished Goods Inventory

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  1. 25 January, 02:34
    0
    transferred-out 135,000

    Explanation:

    We solve using the following identity:

    beginning WIP + cost added during the period:

    total cost to be accounted for.

    Then this value can be either ransferred-out r remain at the ending WIP

    so we construct as follows:

    beginning 0

    added 180,000

    Total cost 180,000

    ending (45,000)

    transferred-out 135,000
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