Textile Inc. processes a single type of cloth for sale to clothing manufacturers. For the currentTextile Inc. processes a single type of cloth for sale to clothing manufacturers. For the current

period the following information is given:

All materials are added at the beginning of the production process. The beginning WIP was $40\%$

complete as to conversion, while the ending WIP was $30\%$ completed for conversion purposes.

a$.$ Calculate Textile's physical flow of units, equivalent units, cost per equivalent unit and assign costs

to Finished Goods and Ending Work$-$in$-$Process inventories using the Weighted Average method of

process costing. Clearly indicate the costs assigned to inventory categories.Textile Inc. processes a single type of cloth for sale to clothing manufacturers. For the current

period the following information is given:

All materials are added at the beginning of the production process. The beginning WIP was $40\%$

complete as to conversion, while the ending WIP was $30\%$ completed for conversion purposes.

a$.$ Calculate Textile's physical flow of units, equivalent units, cost per equivalent unit and assign costs

to Finished Goods and Ending Work$-$in$-$Process inventories using the Weighted Average method of

process costing. Clearly indicate the costs assigned to inventory categories.

b$.$ Calculate Textile's physical flow of units, equivalent units, cost per equivalent unit and assign costs

to Finished Goods and Ending Work$-$in$-$Process $($WIP$)$ inventories using the FIFO method of process

costing. Clearly indicate the costs assigned to inventory categories.

period the following information is given