Required informotion Exercise 8-45, 8-46, 8-47 \& 8-48 (Algo) (LO 8-2, 3, 5) [The following information applies to the questions displayed below] Bellevue Chemicals had beginning work-in-process inventory of $250,370 on March 1. Of this amount, \$102.195 was the cost of direct materials and $148,175 was the cost of conversion. The 24,220 units in the beginning inventory were 45 percent complete with respect to direct materials and 65 percent complete with respect to conversion costs. During March, 58,330 units were transferred out and 15,100 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 $910,635 for direct materials and $1,027,368 for conversion. Exercise 8-48 (Algo) Assign Costs to Goods Transferred Out and Ending Inventory: FIFO Method (LO 82, 5) -1. Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method: -2. Is the ending inventory higher or lower under the weighted-average method compared to FIFO