Solution-Compute the costs of goods transferred out

Compute the costs of goods transferred out

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Reference no: EM132767985

Question - Pacific Ink had beginning work-in-process inventory of $1,145,890 on October 1. Of this amount, $486,200 was the cost of direct materials and $659,690 was the cost of conversion. The 67,000 units in the beginning inventory were 30 percent complete with respect to both direct materials and conversion costs.

During October, 140,000 units were transferred out and 49,000 remained in ending inventory. The units in ending inventory were 80 percent complete with respect to direct materials and 40 percent complete with respect to conversion costs. Costs incurred during the period amounted to $3,818,400 for direct materials and $4,505,850 for conversion.

Required - Compute the costs of goods transferred out and the ending inventory using the weighted-average method.

Reference no: EM132767985

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Compute the costs of goods transferred out : During October, 140,000 units were transferred out and 49,000 remained in ending inventory. Compute the costs of goods transferred out

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Compute the costs of goods transferred out

Reference no: EM132767985

Reference no: EM132767985

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