LO 4.7In a job order cost system, raw materials purchased are debited to which account?

raw materials inventory

work in process inventory

finished goods inventory

cost of goods sold

Question

Business

Nina Barron

13 May, 03:58

LO 4.7In a job order cost system, raw materials purchased are debited to which account?

raw materials inventory

work in process inventory

finished goods inventory

cost of goods sold

+1

Answers (1)

Know the Answer?

Gordon Todd · Answer 1

Raw materials inventory

Explanation:

Since the raw material is purchased which increase the stock account so we debited it and for purchasing the raw material, the cash is given or it can takes on credit so we credited it

So, the journal entry would be

Raw material A/c Dr

To Cash A/c

(Being raw material purchased for cash)

Raw material A/c Dr

To Accounts payable A/c

(Being raw material purchased on credit)

LO 4.7In a job order cost system, raw materials purchased are debited to which account?raw materials inventorywork in process inventoryfinished goods inventorycost of goods sold

LO 4.7In a job order cost system, raw materials purchased are debited to which account?

raw materials inventory

work in process inventory

finished goods inventory

cost of goods sold