Example 1
Additional info.
Job 1 is completed and sold to the customer
Job 2 is completed but not yet sold to the customer
Job 3 & Job 4 are still under processing and not yet a finished good
Required
Prepare the following accounts in general ledger (WIP, F.G, COGS)
The solution:
Hint
All jobs passed through the work in process stage
Only job 1 & 2 reached the point of being a finished good
Only job 1 reached the stage of being finished and sold so we have to go to the point of the cost of goods sold
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