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Required information [ The following information applies to the questions displayed below. ] Annin Laboratories uses the weighted - average method to account for its
Required information
The following information applies to the questions displayed below.
Annin Laboratories uses the weightedaverage method to account for its workinprocess inventories. The accounting records show the following information for February:
tableBeginning WIP inventory,Direct materials,Conversion costs,Current period costs,Direct materials,Conversion costs,
Quantity information is obtained from the manufacturing records and includes the following:
tableBeginning inventory, units complete as to materials, complete as to conversionCurrent period units started, unitsEnding inventory, units complete as to materials, complete as to conversion
Compute the cost of goods transferred out and the ending inventory for February using the weightedaverage method.
Note: Do not round intermediate calculations.
tableCosts of goods transferred out,Costs in ending inventory,
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