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Part 1

The

RippelRippel

Corporation manufactures electrical meters. For August, there were no beginning inventories of direct materials and no beginning or ending work in process.

RippelRippel

uses a JIT production system and backflush costing with

two trigger points

for making entries in the accounting system. The inventory account is confined solely to finished goods. Any under- or overallocated conversion costs are written off monthly to Cost of Goods Sold.