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Gibson Company had 260 units of product in its work in process inventory at the beginning of the period and started 2,000 additional units during
Gibson Company had 260 units of product in its work in process inventory at the beginning of the period and started 2,000 additional units during the period. At the end of the period, 710 units were in work in process inventory. The ending work in process inventory was estimated to be 60 percent complete. The cost of work in process inventory at the beginning of the period was $6,560, and $22,290 of product costs was added during the period. Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent unit. C. Calculate the total cost allocated between the ending Work in Process Inventory and Finished Goods Inventory accounts. Complete this question by entering your answers in the tabs below. Req A and B Reqc Calculate the total cost allocated between the ending Work in Process Inventory and Finished Goods Inventory accounts. (Round intermediate calculations to 2 decimal places and final answers to the nearest whole dollar.) Cost Allocation To finished goods To ending work-in-process inventory Total allocated cost 0
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