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From the following information relating to Process 1 in March, calculate the cost of finished output in the month and the value of the closing
From the following information relating to Process in March, calculate the cost of finished output in the month and the value of the closing inventory, using the FIFO cost valuation method:Opening inventory on March: units complete for direct materials complete for conversion costsCost $ direct materials $ conversion costs $Costs incurred during March:Direct materials: units input, cost $Conversion costs: $Completed units in the month: unitsClosing inventory: units complete for direct materials and completefor conversion costs.
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