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Kirkland Furniture is a manufacturing plant that makes a variety of tables, benches, and other furniture. Indicate which inventory account(s) would be affected by
Kirkland Furniture is a manufacturing plant that makes a variety of tables, benches, and other furniture. Indicate which inventory account(s) would be affected by the following actions that occur at Kirkland's in the process of manufacturing its standard picnic tables. Also indicate whether the inventory account would increase or decrease as a result of the action. (If an input field is not used, leave the input field(s) empty. Do not select a label.) Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Decrease Decrease Action Lumber is delivered by the supplier to the plant, where a. it is stored in a materials storeroom until needed. Lumber is requisitioned from the storeroom to be used b. for tops and seats for the tables. c. Factory workers cut the lumber for the tables. Five tables are completed and moved to the inventory d. storage area to await sale. e. A customer purchases a table and takes it home. Increase
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