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Annin Laboratories uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for February: Beginning WIP inventory Direct

Annin Laboratories uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for February:

Beginning WIP inventory
Direct materials $ 21,053
Conversion costs 6,955
Current period costs
Direct materials 120,247
Conversion costs 52,265

Quantity information is obtained from the manufacturing records and includes the following:

Beginning inventory 6,000 units (40% complete as to materials, 15% complete as to conversion)
Current period units started 44,100 units
Ending inventory 12,000 units (75% complete as to materials, 35% complete as to conversion)

Compute the cost of goods transferred out and the ending inventory for February using the weighted-average method.

Note: Do not round intermediate calculations.

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