Method $($LO $8-2,3)$

The following cost information is available for July for the Crest Plant at Calvert Company:

Materials are added at the beginning of the process. The following quantities have been recorded:

Beginning inventory, $46,800$ partially complete gallons, $25$ percent complete with respect to conversion costs.

Units started in July, $93,600$ gallons.

Units transferred out in July, $105,300$ gallons.

Ending inventory, $35,100$ 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.

Answer is complete but not entirely correct.