Inuit Industries provides you with the following partially completed process-costing report. The cost of goods completed and

Question:

Inuit Industries provides you with the following partially completed process-costing report.

The cost of goods completed and transferred out (COGM) contains $162,000 of materials costs and $108,000 of conversion costs.
Required:
Determine the value of Inuit's ending WIP inventory.

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Managerial Accounting

ISBN: 978-1118385388

2nd edition

Authors: Ramji Balakrishnan, Konduru Sivaramakrishnan, Geoff B. Sprinkle

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Question Posted: Apr 14, 2017 12:13 PM

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Inuit Industries provides you with the following partially completed process-costing report. The cost of goods completed and

Question:

Equivalent Unts Equivalent Units Value Item Ending WIP inventory Cost of goods completed & of Material 10,000 of Conversion 7,000 transferred out 90,000 90,000 $270,000

Step by Step Answer:

Let us begin by using the data for finished items to calculate the cost per equivale...View the full answer

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