HENRY makes carrying cases for electronic devices.

1. Which type of coting system is ahenry using? What piece of data did you base your answer on?

Henry uses a _______ system. We know this because Henry's costing records show costs being accumulated for each _______________.

2. Compute Henry's account balances at October 31 for WIP, Finsihed goods inventory, and cogs.

Henry's manufacturing

Computation of WIP inventory, finished goods inventory and cogs

Date Work in process Finished goods inventory Cost of goods sold Job Cost Job Cost Job Cost October 31 Total Total Total November 30 Total Total Total

3. Prepeare a journal entry to record the transfer of completed wip inventory to finished goods for october AND November. ( record debts first, then credit)

4. Record the sale of Job 3 for $2300 (record debts then credits)

First record the revenue related to the sale of job 3 on account.

Data

Job No.	started	Date finished	sold	Total cost of job at Oct. 31	Total mfg. costs added in Nov
1	10/03	10/12	10/13	$ 1500
2	10/03	10/30	11/01	1900
3	11/24	11/24	11/27	1200	$ 800
4	10/29	11/29	12/03	600	1200
5	11/08	11/12	11/14		650
6	11/23	12/06	12/09		900