Kimbeth Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry. The following nformation pertains to operations for the month of May 2012: Beginning work in process inventory, May 1 Started in production during May Completed production during May Ending work in process inventory, May 31 Units 16,000 100,000 92,000 24,000 The beginning inventory was 60% complete for materials and 20% complete for conversion costs. The ending inventory was 90% complete for materials and 40% complete for conversion costs. Costs pertaining to the month of May are as follows:

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.