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 $985,960 on October 1. Of this amount, $412,500 was the cost of direct materials and $573,460 was the cost of conversion. The 60,000 units in the beginning inventory were 30 percent complete with respect to both direct materials and conversion costs. During October, 126,000 units were transferred out and 42,000 remained in ending inventory. The units in ending inventory were 80 percent complete with respect to direct materials and 40 percent complete with respect to conversion costs. Costs incurred during the period amounted to $3,186,000 for direct materials and $3,943,680 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 weighted average method. (Round intermediate calculations to 2 decimal places.) Cost of goods transferred out Ending inventory