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The Matsui Lubricants plant uses the weighted average method to account for its work in...

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Accounting

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The Matsui Lubricants plant uses the weighted average method to account for its work in process inventories. The accounting records show the following information for a particular day $ Beginning WIP Inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs 982 377 15.650 7.903 Quantity Information is obtained from the manufacturing records and includes the following: Beginning inventory Current penod units started Ending inventory BOO (65% complete as to materials 53% complete as to conversion 4700 units 1500 units (45 complete as to materials 15% complete as to conversion Compute the cost of goods transferred out and the ending inventory using the weighted average method. (Do not round intermediate calculations.) Costs of goods transferred out Costsin ending inventory

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