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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 workinprocess 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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