Answer Happy

Luker Corporation uses a process costing system. The company had $171,500 of beginning Finished Goods Inventory on October t. it transferred in $848,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $169,200. The entry to account for the cost of goods manufactured during October is Mutiple Choice Debit Finished Goods Inventory $69.200, credit Cost of Goods Sold $109.200 Debit Cost of Goods Sold $848.000 credit Finished Goods inventory $48.000 Debit Cost of Goods Soid $450.300: credit Finished Goods Inventory $850.300 Debt Finished Goods Inventory $848.000; credit Work in Process Inventory $848,000 Debit Cost of Goods Sold $850,300: creat Work in Process Inventory $850.300