A company started a new product, and in the first month started 80,000 units. The ending work in process inventory was 20,000 units that were 100% complete with materials and 75% complete with conversion costs. There were 80,000 units to account for, and the equivalent units for materials was $6 per unit while the equivalent units for conversion was $6 per unit. What is the value of the inventory transferred out, using the weighted-average inventory method? Cost of inventory transferred $
A company started a new product, and in the first month started 80,000 units. The ending work in process inventory was 20,000 units that were 100% complete with materials and 75% complete with conversion costs. There were 80,000 units to account for, and the equivalent units for materials was $6 per unit while the equivalent units for conversion was $6 per unit. What is the value of the inventory transferred out, using the weighted-average inventory method? Cost of inventory transferred $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![A company started a new product, and in the first month
started 80,000 units. The ending work in process inventory
was 20,000 units that were 100% complete with materials
and 75% complete with conversion costs. There were
80,000 units to account for, and the equivalent units for
materials was $6 per unit while the equivalent units for
conversion was $6 per unit. What is the value of the
inventory transferred out, using the weighted-average
inventory method?
Cost of inventory transferred $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4c38d8f0-2000-4b71-8d87-3c807845adc2%2F0719d09b-a6ee-4fae-a10e-e2bf33081e75%2Fk1wpj1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A company started a new product, and in the first month
started 80,000 units. The ending work in process inventory
was 20,000 units that were 100% complete with materials
and 75% complete with conversion costs. There were
80,000 units to account for, and the equivalent units for
materials was $6 per unit while the equivalent units for
conversion was $6 per unit. What is the value of the
inventory transferred out, using the weighted-average
inventory method?
Cost of inventory transferred $
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