Exercise $8-45,8-46,8-47$ & $8-48($Algo$)($LO $8-2,3,5)[$The following information applies to the questions displayed below.$]$Bellevue Chemicals had beginning work$-$in$-$process inventory of $$252,125$ onMarch $1.$ Of this amount, $$102\mathrm{.}200$ was the cost of direct materials and $$149\mathrm{.}925$ was the cost of conversion. The $24,260$ units in the beginning inventory were $45$ percent complete with respect to direct materials and $65$ percent complete with respect to conversion costs.During March, $58,390$ units were transferred out and $15,300$ remained in ending inventory. The units in ending inventory were $70$ percent complete with respect to direct materials and $15$ percent complete with respect to conversion costs. Costs incurred during March amounted to $$927,390$ for direct materials and $1039501$ conversion Exercise $8-48($Algo$)$ Assign Costs to Goods Transferred Out and EndingInventory: FIFO Method $($LO $8-2,5)$a$-1.$ Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method.a$-2.$ Is the ending inventory higher or lower under the weighted$-$average method compared to FIFO?