Answer to Question #210379 in Finance for elma

Question #210379

WIP for value of EUR 400000 were completed. what are the correct registration?


1
Expert's answer
2021-06-25T11:05:55-0400

A work-in-progress (WIP) is the cost of unfinished goods in the manufacturing process including labor, raw materials, and overhead. The general ledger account used to track work in progress is the work in progress inventory account.


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