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In the beginning inventory, 5,000 units were 40% complete with regard to materials. During this period 40,000 units were transferred out. Ending inventory consisted of 7,000 units that were 70% complete with respect to materials. How many units were started and completed during the period?

In the beginning inventory, 5,000 units were 40% complete with regard to materials. During this period 40,000 units were transferred out. Ending inventory consisted of 7,000 units that were 70% complete with respect to materials. How many units were started and completed during the period?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In the beginning inventory, 5,000 units were 40% complete with regard to materials. During this period 40,000 units were transferred out. Ending inventory consisted of 7,000 units that were 70% complete with respect to materials. How many units were started and completed during the period?
Transcribed Image Text:In the beginning inventory, 5,000 units were 40% complete with regard to materials. During this period 40,000 units were transferred out. Ending inventory consisted of 7,000 units that were 70% complete with respect to materials. How many units were started and completed during the period?
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