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can you please tell me how to account this. or what is the journal entry for the following transaction. In a manufacturing firm we need to enter in software good received from production. it shoud be debited. so what is the credit side for this entry.
when i sale this product what will be entry. how the good received from production will be affected when we make sale of these items

2007-07-16 22:21:34 · 1 answers · asked by Marlon L 1 in Education & Reference Other - Education

1 answers

When the goods are manufactured in the factory and the finished goods are passed to the sales warehouse for selling, you'd:
Dr Finished goods inventory
Cr Cost of goods manufactured

When you sell these finished goods, you'd:
Dr Cost of goods sold
Cr Finished goods inventory

2007-07-17 20:04:54 · answer #1 · answered by Sandy 7 · 0 0

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