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28 Text Mode Frample 1 EII 3 On Janary 1, Lei Company had 1,100 pallons of juice that were already 30% complete for convervion conts
28 Text Mode
Frample 1 EII 3 On Janary 1, Lei Company had 1,100 pallons of juice that were already 30% complete for convervion conts at that time. Conversion conts are added evenly throughout production, while two DM rewources are added at different stages: Alworing, added at the beginning of the process, and packaging added when units hvive received 95% of convenion costs. Throughout the year, Lei started anothet 65,000 gallons of jaice. By year-end, 64,500 galloes had been completed, leaving 1,600 gallons still in WIP Inrentory. These ending units were 80% complete for conrernion conts so had not yet been packaged. Required a) Asnuming that Lei uses the FIFO method of process costing, determine its physical flow of units and identify degree of completionStep by Step Solution
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