! Required information [The following information applies to the questions displayed below.] The Matsui 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 Current period costs Direct materials Conversion costs $ 970 512 22,295 13,437 Quantity information is obtained from the manufacturing records and includes the following. Beginning inventory Current period units started Ending inventory 650 units (60% complete as to materials, 54% complete as to conversion) 5,600 units 1,800 units (40 % complete as to materials, 20% 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.)