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Required Information

$[$The following informatlon applles to the questions displayed below.$]$

Bellevue Chemicals had beginning work$-$In$-$process Inventory of $$246,875$ on March $1.$ Of this amount, $$102,190$ was the

cost of direct materials and $$144,685$ was the cost of conversion. The $24,140$ units in the beginning inventory were $45$

percent complete with respect to direct materlals and $65$ percent complete with respect to conversion costs.

During March, $58,210$ units were transferred out and $14,700$ remained in ending Inventory. The units in ending Inventory

were $70$ percent complete with respect to direct materials and $15$ percent complete with respect to conversion costs.

Costs incurred during March amounted to $$877,360$ for direct materials and $$1,003,200$ for conversion.

a$-1.$ Compute the cost of goods transferred out and the cost of ending Inventory for March using the FIFO method.

a$-2.$ Is the ending inventory higher or lower under the weighted$-$average method compared to FIFO?

Complete this question by entering your answers in the tabs below.

Req A$1$

Req A$2$

Compute the cost of goods transferred out and the cost of ending inventory for March 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