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    Answer Question 1 PDF

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    caiden dump
    This document shows the calculations for determining costs of goods sold under the FIFO and weighted average inventory costing methods. Under FIFO, beginning work in process was $11,855, costs transferred out were $129,305, and ending work in process was $17,520, for total costs of $146,825. Using weighted average, costs were $129,500, and ending work in process was $17,325, also for total costs of $146,825.

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    Answer Question 1 PDF

    Uploaded by

    caiden dump
    14 views1 page
    This document shows the calculations for determining costs of goods sold under the FIFO and weighted average inventory costing methods. Under FIFO, beginning work in process was $11,855, costs transferred out were $129,305, and ending work in process was $17,520, for total costs of $146,825. Using weighted average, costs were $129,500, and ending work in process was $17,325, also for total costs of $146,825.

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    This document shows the calculations for determining costs of goods sold under the FIFO and weighted average inventory costing methods. Under FIFO, beginning work in process was $11,855, costs transferred out were $129,305, and ending work in process was $17,520, for total costs of $146,825. Using weighted average, costs were $129,500, and ending work in process was $17,325, also for total costs of $146,825.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    14 views1 page

    Answer Question 1 PDF

    Uploaded by

    caiden dump
    This document shows the calculations for determining costs of goods sold under the FIFO and weighted average inventory costing methods. Under FIFO, beginning work in process was $11,855, costs transferred out were $129,305, and ending work in process was $17,520, for total costs of $146,825. Using weighted average, costs were $129,500, and ending work in process was $17,325, also for total costs of $146,825.

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    of 1

    FIFO

    Beginning work in process 4,130


    (7,500 x 1.03) 7,725
    11,855
    Started and completed
    (90,000 x 1.305) 117,450
    Total costs transferred out 129,305

    Ending work in process


    (30,000 x 0.275) 8,250
    (9,000 x 1.03) 9,270
    17,520

    Total costs accounted for 146,825

    WEIGHTED AVERAGE
    (100,000 x 1.295) 129,500
    Ending work in process
    (30,000 x 0.27) 8,100
    (9,000 x 1.025) 9,225
    17,325

    Total costs accounted for 146,825

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