Valuation of manufactured inventories Moldifome Corporation recently established a new department to produce molded foam packaging materials for packing sensitive electronic instruments and components. Production started in July. During the next two quarters the company experienced the following costs, production, and sales:

The company uses a periodic inventory system for finished goods. It incurred the following operating expenses in the new department:

Transcribed Image Text:

Transferred Cost per Sales in Selling from WIP Unit Units Price July 40,000 $3.00 20,000 $5.00 August 60,000 3.20 55,000 5.25 September 50,000 3.40 60,000 5.50 October 70,000 3.50 57,000 5.70 November 72,000 3.60 65,000 5.85 December 78,000 3.75 83,000 6.00