a-company-completes-7000-worth-of-inventory-how-should-this-be-recorded

Question

A company completes $7,000 worth of inventory. How should this be recorded?

Accepted Answer

Debit Finished Goods Inventory $$7,000; Credit Work in Process Inventory 7$$,000

Answer

Debit Finished Goods Inventory $$7,000; Credit Raw Materials Inventory 7$$,000

Answer

Debit Raw Materials Inventory $$7,000; Credit Finished Goods Inventory 7$$,000

Answer

Debit Work in Process Inventory $$7,000; Credit Finished Goods Inventory 7$$,000

A company completes \$7,000 worth of inventory. How should this be recorded?