The cost of units sold is recorded by debiting Cost Goods Sold and crediting; Finished Goods Inventory. Sales Revenue. Work-in-Process Inventory. Wages Payable. Under a process costing system, inventory data for the balance sheet is provided by the: Work-in-Process Inventory of each department. Finished Goods account. production cost report. Cost of Sold account. A production cost report aids in preparing an income statement by: providing data for period costs incurred during the period. providing data for various inventory accounts. providing data for cost of goods sold during the period. providing data for revenues generated during the period