Transferred-in costs, FIFO method. (35-40 minutes) Refer to the information in Exercise 4-16. Suppose that Telemark-Kjemi uses the FIFO method instead of the weighted-average method in all its departments.
The only changes under the FIFO method are that the total transferred-in cost of beginning work in progress is NKr 39,200 and that the cost of work done in the current period is NKr 85,600.
REQUIRED lo1

Do Exercise