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The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for a particular day.

The Matsui Lubricants plant uses the weighted-average 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 $ 992
Conversion costs 407
Current period costs
Direct materials 18,540
Conversion costs 10,538

Quantity information is obtained from the manufacturing records and includes the following.

Beginning inventory 900 units (60% complete as to materials, 55% complete as to conversion)
Current period units started 4,900 units
Ending inventory 1,100 units (40% complete as to materials, 25% complete as to conversion)

Compute the cost of goods transferred out and the ending inventory using the weighted-average method.

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