Question
On January 1, Feldstein Manufacturing had a beginning balance in WorkminusinminusProcess Inventory of $81,900 and a beginning balance in Finished Goods Inventory of $23,400. During
On January 1, Feldstein Manufacturing had a beginning balance in WorkminusinminusProcess Inventory of $81,900 and a beginning balance in Finished Goods Inventory of $23,400. During the year, Feldstein incurred manufacturing costs of $353,000. During the year, the following transactions occurred: Job Aminus12 was completed for a total cost of $120,100 and was sold for $125,500. Job Aminus13 was completed for a total cost of $201,200 and was sold for $212,400. Job Aminus15 was completed for a total cost $63,000 but was not sold as of yearminusend. What was the balance in Finished Goods Inventory at the end of the year?
A.$86,400 credit balance
B.$86,400 debit balance
C.$384,300debit balance
D.$407,700 debit balance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started