Account Work-in-Process Inventory-Packaging Cost of Goods Sold Work-in-Process Inventory-Cutting Work-in-Process Inventory-Finishing Finished Goods lInventory Order

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Tracking the flow of costs

The Jimenez Toy Company makes wooden toys. The company uses a process costing system. Arrange the company’s accounts in the order the production costs are most likely to flow, using 1 for the first account, 2 for the second, and so on.

 

Account
Work-in-Process Inventory-Packaging
Cost of Goods Sold
Work-in-Process Inventory-Cutting
Work-in-Process Inventory-Finishing
Finished Goods lInventory
Order
Transcribed Image Text:Account Work-in-Process Inventory-Packaging Cost of Goods Sold Work-in-Process Inventory-Cutting Work-in-Process Inventory-Finishing Finished Goods lInventory Order
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