Process 2 receives units from Process 1 and after carrying out work on the units, transfers them to Process 3. For the accounting period the relevant data were as follows: Opening WIP 200 units (25% complete) valued at 800 units received from Process 1 valued at 840 units were transferred to Process 3 Closing WIP 160 units (50% complete) The costs of the period were 133,160 and no units were scrapped. Required: $ 5,000 8,600 Prepare the Process Account for Process 2 using the Average Cost method of valuation