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Required information [ The following information applies to the questions displayed below. ] Annin Laboratories uses the FIFO method to account for its work -

Required information
[The following information applies to the questions displayed below.]
Annin Laboratories uses the FIFO method to account for its work-in-process inventories. The accounting records show the
following information for February:
Quantity information is obtained from the manufacturing records and includes the following:
Compute the cost of goods transferred out and the ending inventory for February using the FIFO method.
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar.
Cost of goods transferred out
Cost of ending inventory
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