E3-8A

Finished Goods and Cost of Goods Sold Before the completed production for June is recorded, the work in process inventory account for James Company appears as follows: Assume that completed production for June includes Jobs 107.108. and 109 with total costs of $28,000. $59,000. and $25,000, respectively. Determine the cost of unfinished jobs at June 30 and prepare a journal entry to record completed production. Using general journal entries, record the sale of Job 107 for $40,000 on account