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18 Percent Complete Milling Department Units Materials Conversion Beginning work in process inventory 200 40 % 30 % Units started into production during March 6,200
18
Percent Complete | |||||||||||||
Milling Department | Units | Materials | Conversion | ||||||||||
Beginning work in process inventory | 200 | 40 | % | 30 | % | ||||||||
Units started into production during March | 6,200 | ||||||||||||
Units completed during the period and transferred to the next department | 5,800 | 100 | % | 100 | % | ||||||||
Ending work in process inventory | 600 | 70 | % | ? | % | ||||||||
Milling Department | Materials | Conversion | ||||||
Cost of beginning work in process inventory | $ | 10,000 | $ | 15,000 | ||||
Costs added during the period | 290,000 | 385,000 | ||||||
Total cost | $ | 300,000 | $ | 400,000 | ||||
If the equivalent units of production for conversion is 6,100 units using the FIFO method, then what is the percent complete for the ending work in process inventory with respect to conversion?
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