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At January 1,2012, Feldstein Manufacturing Company had a beginning balance in Work in process of $80,000 and a beginning balance in Finished Goods of $20,000.During the year, Feldstein incurred manufacturing costs of $350,000.
During the year, the following transactions occurred:
During the year, the following transactions occurred:
Job A-12, was completed for a total cost of $120,000 and was sold for $125,000.
Job A-13, was completed for a total cost of $200,000 and was sold for $210,000.
Job A-15, was completed for a total cost $60,000, but was not sold as of year-end.
At the end of the year, what was the balance in Finished Goods?
Select one:
A. $30,000 debit balance
B. $65,000 debit balance
C. $80,000 debit balance
D. $40,000 credit balance
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