Flow of Product Costs through Accounts The following T accounts present a cost flow in which all or part of typical manufacturing transactions are indicated by parenthetical letters on the debit or credit side of each account. Materials (a) Inventory Wages Payable (b) Manufacturing Overhead 00 10 (0) Work in process Inventory Finished Goods Inventory Cost of Goods Sold Page 3 Next to each letter below, select the appropriate transaction or procedure that has occurred using the drop-down menu. Then present the general journal entry for each by selecting the appropriate debit and credit entries.