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  3. the matsui lubricants plant uses the weighted-aver

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

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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 $980 557 Direct materials Conversion costs Current period costs Direct materials Conversion costs 27,220 16,803 Quantity information is obtained from the manufacturing records and includes the following: 800 units (65% complete as to materials, Beginning inventory Current period units started Ending inventory 56% complete as to conversion) 5,900 units 1,500 units (45% complete as to materials, 15% complete as to conversion) 3. 1000 points Required information 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 Costs in ending inventory

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