Create a Fifo and weighted average process costing system.

, 18(3)--Process Cost Systems teriats are added at the beginning of the KEY: Bloom's: Application Penny, Inc. employs a process costing system. Direct ma Here is information about July's aetivities July 1 nni ing inventories 850 units, 60% complete $5,000 Direct materials cost onversion costs During July: Number of units started Direct materials added Conversion costs added 15,000 $155,000 $83,520 On July 31: Ending inventories 1.600 units, 40% complete