Exercise 8-40 (Algo) Assign Costs to Goods Transferred Out and Ending Inventory: FIFO Method (LO 85,5) The following cost information is available for July for the Crest Plant ot Calvert Company: Moterials ore added at the beginning of the process. The following quantities have been recorded: - Beginning inventory, 42,500 partially complete gallons, 50 percent complete with respect to conversion costs - Units started in July, 82,500 galions. - Units vansferred out in July 92500 galions - Ending inventory, 32,500 galions, 65 percent complete with respect to conversion costs Required: Compute the cost of goods transferred out and the ending inventory for July using the FIFO method Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar