The Packing Department Transferred Out Completed Units with a Cost $\begin{array}{llr} \text { Finished Goods Inventory } &74,000\\ \text { Goods in Process Inventorv Packing Dept } &&74,000\\\end{array}$

True/False

The Packing Department transferred out completed units with a cost of $74,000.This transfer should be recorded with the following entry:
$\begin{array}{llr} \text { Finished Goods Inventory } &74,000\\ \text { Goods in Process Inventorv Packing Dept } &&74,000\\\end{array}$