Manufacturing
Transfer of WIP to Finished Goods (COGM)
Recording the completion of the manufacturing process.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Finished Goods Inventory | Asset (+) | 6,700.00 | - |
| Work-in-Process (WIP) Inventory | Asset (-) | - | 6,700.00 |
💡 Accountant's Note
This represents the 'Cost of Goods Manufactured'. The product is now ready for sale and sitting in the shipping warehouse.
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