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 $ 976 272 Current period costs Direct materials 11,440 6,644 Conversion costs Quantity information is obtained from the manufacturing records and includes the following. Beginning inventory 600 units (60% complete as to materials, 53% complete as to conversion) 1,200 units (40% complete as to materials, 20% complete as to conversion) Current period units started Ending inventory 4,000 units Compute the cost of goods transferred out and the ending inventory using the weighted-average method. (Do not round inte, calculations.) Costs of goods transferred out Costs in ending Inventory $ 12,412 $ 2,040