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During February, Degan Inc. transferred $67,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $72,000 (assume there was

During February, Degan Inc. transferred $67,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $72,000 (assume there was enough beginning balance in the Finished goods inventory account). The journal entries to record these transactions would include:

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