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The cost of production of completed and transferred goods during the period amounted to $540,000, and the finished products shipped to customers had production costs

The cost of production of completed and transferred goods during the period amounted to $540,000, and the finished products shipped to customers had production costs of $375,000. The entry to record the transfer of costs from finished goods to cost of goods sold is

Cost of Goods Sold 540,000

Finished Goods 540,000

Finished Goods 375,000

Cost of Goods Sold 375,000

Finished Goods 540,000

Cost of Goods Sold 540,000

Cost of Goods Sold 375,000

Finished Goods 375,000

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