Required information Exercise 8-37, 8-38, 8-39, 8-40 (Algo) (LO 8-2, 3,5) The following information applies to the questions displayed below) Pacific Ink had beginning work in process inventory of $894,960 on October 1. of this amount $375,100 was the cost of direct materials and $519,860 was the cost of conversion The 64 000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs. During October, 134,000 units were transferred out and 46,000 remained in ending inventory. The unitsin ending Inventory were 75 percent complete with respect to direct materials and 35 percent complete with respect to conversion costs. Costs incurred during the period amounted to $3,446,500 for direct materials and $4,291.200 for conversion, Exercise 8-38 (Algo) Assign Costs to Goods Transferred Out and Ending Inventory: Weighted-Average Method (LO 8-2, 3) Compute the costs of goods transferred out and the ending inventory using the welghted average method. (Round intermediate calculations to 2 decimal places.) Cost of goods transferred out Ending inventory