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Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a
Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first
processing department for a recent month.
Required:
Using the FIFO method:
a Determine the equivalent units of production for materials and conversion costs.
b Determine the cost per equivalent unit for materials and conversion costs.
c Determine the cost of ending work in process inventory.
d Determine the cost of units transferred out of the department during the month.
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