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18-40 Transferred-in costs, FIFO method (continuation of 18-39).(LO 5) Refer to the information in Problem...

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Accounting

18-40 Transferred-in costs, FIFO method (continuation of 18-39).(LO 5) Refer to the information in Problem 18-39. Suppose that Hoffman Company uses the FIFO method instead of the weighted-average method in all of its departments. The only changes to Problem 18-39 under the FIFO method are that total transferred-in costs of beginning work-in-process on October 1 are $2,879,000(instead of $2,931,000) and that total transferred-in costs added during October are $9,048,000(instead of $8,094,000).RequiredUsing the FIFO process-costing method, complete Problem 18-39.

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