A production department's beginning inventory cost includes $426,000 of conversion costs. This department incurs an additional $1,077,500 in conversion costs in the month of March, Equivalent units of production for conversion total 860,000 for March Calculate the cost per equivalent unit of conversion using the weighted-average method. Choose Numerator Cost per equivalent unit of conversion Choose Denominator Cost per equivalent unit of production

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.