PROBLEM NO. 11 11. Orange Company manufactures a single product. All material is added at the beginning of the process. Costs Material Conversion Total Beginning inventory $ 30, 000 S 3, 600 S 33, 600 Current period 885, 120 335, 088 1, 220, 208 Total costs $915, 120 9338, 688 $1, 253, 808 UNITS Beginning inventory (30% complete- 6,000 units conversion) Started 180, 000 units Completed 152,000 units Ending inventory (70% complete-conversion) 20,000 units Normal spoilage 4, 800 units Required: Find ending WIP inventory, abnormal loss, and COGM. Assume that, for conversion costs, abnormal shrinkage is 60 percent. Use FIFO Method