Prepare a journal entry to transfer costs. (Obj. 7). The beginning inventory of work in process in the Packaging Department 127 of the McFee Company in March 19X9 was $34,000. Costs incurred in the department during the month totaled $68,000. The cost of products transferred to Finished Goods 130 during the month was $76,000.

Give the journal entry to record the transfer of finished products from the Packaging Department to the finished goods storeroom.

LO.1