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 $ 980 Conversion costs 302 Current period costs Direct materials Conversion costs 12,040 5,503 Quantity information is obtained from the manufacturing records and includes the following. Beginning inventory Current period units started Ending inventory 550 units (70% complete as to materials, 52% complete as to conversion) 4,200 units 1,100 units (50% 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.) Costs of goods transferred out Costs in ending inventory