Exercise 8-41 & 8-42 (Algo) (LO 8-2, 3) [The following information applies to the questions displayed below.] Annin Laboratories uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for February: Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs $ 21,553 7,105 123,992 55,520 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory Current period units started Ending inventory 6,000 units (40 % complete as to materials, 15% complete as to conversion) 44,200 units 13,000 units (75% complete as to materials, 35% complete as to conversion)