Tannin inc produces a gasoline additive that when added to the gas tank if the average automobile, is designed to increase gas mileage by 15% the company controller suspects that the year end dollar balances shown below in the inventory accounts may be correct

uulatioH.com/flow/connect.html ts r 6 Problems Help Save & Ex Tambin Inc. produces a gasoline additive that, when added to the gas tank of the average automobile, is designed to increase gas mileage by 15% The company's controller suspects that the year-end dollar balances shown below in the inventory accounts may be incorrect. Work in process, December 31 (materials 100% complete; conversion 5e% complete) Finished goods, December 31 33,eee $68,090 38,000 $121,50e There were no finished goods inventories at the beginning of the year. The company uses the weighted-average method of process costing. There is only one processing department A review of the company's inventory and cost records shows the following Units llork in process, beginning of year (materials 100% complete; 28,e00 s 30,000 s 56,000 603,000 conversion 80% complete) Started into production Costs added during the year Units completed during the year $758,000 $2,080,000 760,000 K Prex 4 of 5 Next >