the matsui lubricants plant uses the FIFO 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 $976

conversion cost $272

current period costs

direct materials $11,440

conversion cost $6,644

quantity information is obtained from the manufacturing records and includes the following:

beginning inventory 600 units (60% complete t materials and 53% complete to conversion)

current period units started 4000 units

ending inventory 1200 units (40% complete to materials and 20% complete to conversion)

Compute the cost of goods transferred out and the ending inventory using the FIFO method