Exercise 8-38 (Algo) Assign Costs to Goods Transferred Out and Ending Inventory: Weighted-Average Method (LO 8-2, 3)
The following cost information is available for July for the Crest Plant at Calvert Company:
Beginning work-in-process inventory
Materials cost	$57,120
Conversion cost	36,108
Total	$93,228
Current costs
Materials cost	$126,480
Conversion cost	380,052
Total	$506,532
Materials are added at the beginning of the process. The following quantities have been recorded:
Beginning inventory, 40,800 partially complete gallons, 25 percent complete with respect to conversion costs.
Units started in July, 81,600 gallons.
Units transferred out in July, 91,800 gallons.
Ending inventory, 30,600 gallons, 40 percent complete with respect to conversion costs.
Required:
Compute the cost of goods transferred out and the ending inventory for July using the weighted-average method.
Note: Do not round your intermediate calculations.