Question
Prime Industries manufactures plastic tubing and uses the FIFO method of calculating its inventory. It has the following information about its process for the period:
Prime Industries manufactures plastic tubing and uses the FIFO method of calculating its inventory. It has the following information about its process for the period:
Beginning WIP inventory: 8,000 units
Units transferred out: 19,000 units
Ending WIP inventory: 6,000 units
Equivalent production: 2,800 units
Materials and costs were added evenly throughout the period.
Determine the number of units that were started during this period.
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International Accounting
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera
5th edition
1259747980, 9781259747984, 1260466531, 978-1260466539
