Required Information [The following information applies to the questions displayed below.] Annin Laboratories uses the FIFO method to account for its work-in-process Inventories. The accounting records show the following Information for February. Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs Beginning inventory Current period units started Ending inventory Quantity Information is obtained from the manufacturing records and includes the following: $ 29,053 9,355 176,567 91,145 Cost of goods transferred out Cost of ending inventory Compute the cost of goods transferred out and the ending Inventory for February using the FIFO method. Note: Do not round Intermediate calculations. Round your final answers to the nearest whole dollar. S 181,069 S 115,010 6,000 units (48% complete as to materials, 15% complete as to conversion) units 45,700 28,000 units (75% complete as to materials, 35% complete as to conversion) Answer is complete but not entirely correct. Q Search < Prev JA 4 of 10 LO Next > H

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Chapter1: Financial Statements And Business Decisions
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M Question 4-CH
https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F... Q
37 ACG3343 2023 X M Question 3-Chapter X GEN Exercises
Homework i
Required Information
[The following information applies to the questions displayed below.]
Beginning WIP inventory
Direct materials
Conversion costs
Current period costs
Direct materials
Conversion costs
Check my work mode: This shows what is correct or Incorrect for the work you have completed so far. It doe
Annin Laboratories uses the FIFO method to account for its work-in-process Inventories. The accounting records show the
following Information for February:
Cost of goods transferred out
Cost of ending inventory
9
Quantity Information is obtained from the manufacturing records and includes the following:
Beginning inventory
Current period units started
Ending inventory
F2
Answer is complete but not entirely correct.
$ 181,069 X
Is
$ 115,010 X
$ 29,053
9,355
Compute the cost of goods transferred out and the ending Inventory for February using the FIFO method.
Note: Do not round Intermediate calculations. Round your final answers to the nearest whole dollar.
F3
176,567
91,145
DII
F4
X b Home | bartleby
6,000 units (40% complete as to materials, 15% complete as to conversion)
45,700 units
28,000 units (75% complete as to materials, 35% complete as to conversion)
Q Search
Saved
DE
F5
< Prev
F6
X
S
4 of 10
包
MLDCE
F8
Next >
17
F9
(DELL
prt sc
Transcribed Image Text:M Question 4-CH https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F... Q 37 ACG3343 2023 X M Question 3-Chapter X GEN Exercises Homework i Required Information [The following information applies to the questions displayed below.] Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs Check my work mode: This shows what is correct or Incorrect for the work you have completed so far. It doe Annin Laboratories uses the FIFO method to account for its work-in-process Inventories. The accounting records show the following Information for February: Cost of goods transferred out Cost of ending inventory 9 Quantity Information is obtained from the manufacturing records and includes the following: Beginning inventory Current period units started Ending inventory F2 Answer is complete but not entirely correct. $ 181,069 X Is $ 115,010 X $ 29,053 9,355 Compute the cost of goods transferred out and the ending Inventory for February using the FIFO method. Note: Do not round Intermediate calculations. Round your final answers to the nearest whole dollar. F3 176,567 91,145 DII F4 X b Home | bartleby 6,000 units (40% complete as to materials, 15% complete as to conversion) 45,700 units 28,000 units (75% complete as to materials, 35% complete as to conversion) Q Search Saved DE F5 < Prev F6 X S 4 of 10 包 MLDCE F8 Next > 17 F9 (DELL prt sc
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