Required information i (The following information applies to the questions displayed below] The Matsul Lubricants plant uses the weighted average method to account for its work-in-process inventories. The accounting records show the following information for a particular day. Beginning WIP inventory Direct materials Conversion costs 986 317 Current perind costs Direct materials 12,390 Conversion costs) Quantity information is obtained from the manufacturing records and includes the following. Beginning inventory 600 units (60% complete as to materials, Current period units started Ending inventory 53% complete as to conversion) 4,300 units 1,200 units (40% complete as to materials, 25% complete as to conversion) Compute the cost of goods transferred out and the ending inventory using the weighted average method. (Do not round intermediate calculations.)