The cost of goods manufactured for the period is $100,000. The journal entry to record the transfer of the finished goods to a storage area before being sold would be:

Basically, the product is passed from the two cycles to make a product ready to sell. They are:

1. Raw material inventory: It refers to a part of the product like - direct material, direct labor

2. Work in progress inventory: It shows the percentage of the work which is not complete and which is completed. How much work is in progress.

3. Finished goods inventory: The goods are ready for sell.

So, the journal would be:

Finished goods inventory A/c Dr $100,000

To Work in progress inventory $100,000

(Being transfer of finished goods recorded)